J.P. Morgan Sticks to Its Hold Rating for Asbury (ABG)

In a report released on October 31, Rajat Gupta CFA from J.P. Morgan maintained a Hold rating on Asbury (ABGResearch Report), with a price target of $190.00. The company’s shares closed yesterday at $167.75.

According to TipRanks, Gupta CFA is a 4-star analyst with an average return of 12.5% and a 54.55% success rate. Gupta CFA covers the Consumer Goods sector, focusing on stocks such as Carvana Co, Shift Technologies, and Group 1 Automotive.

Currently, the analyst consensus on Asbury is a Moderate Buy with an average price target of $279.00.

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Based on Asbury’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.87 billion and a net profit of $205 million. In comparison, last year the company earned a revenue of $2.41 billion and had a net profit of $147 million

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Asbury Automotive Group, Inc. operates as a holding company, which engages in the automotive dealership. It offers a range of automotive products and services, including new and used vehicles; vehicle maintenance, replacement parts and collision repair services; new and used vehicle financing; and aftermarket products such as insurance, warranty and service contracts. The company was founded in 1995 and is headquartered in Duluth, GA.

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