Asbury Automotive
About: Asbury Automotive Group is a regional collection of automobile dealerships that went public in March 2002. The company operates 155 new-vehicle stores and 37 collision centers. Over 70% of new-vehicle revenue is from luxury and import brands. Asbury also offers third-party financing and insurance products and its own F&I products via Total Care Auto. Asbury operates in 15 states (mostly Texas, the West, the Mid-Atlantic, and the Southeast). Asbury store brands include McDavid and Park Place in Texas, Koons in the Washington, D.C. area, and the Larry H. Miller brand in the Western US. Asbury generated $14.8 billion of revenue in 2023 and is based in the Atlanta area. The firm targets at least $30 billion of revenue sometime between 2025 and 2030.
Employees: 15,000
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
363% more call options, than puts
Call options by funds: $65.5M | Put options by funds: $14.2M
20% more funds holding in top 10
Funds holding in top 10: 5 [Q1] → 6 (+1) [Q2]
0.6% more ownership
Funds ownership: 106.94% [Q1] → 107.54% (+0.6%) [Q2]
2% less repeat investments, than reductions
Existing positions increased: 106 | Existing positions reduced: 108
4% less capital invested
Capital invested by funds: $5.12B [Q1] → $4.92B (-$199M) [Q2]
3% less funds holding
Funds holding: 307 [Q1] → 298 (-9) [Q2]
17% less first-time investments, than exits
New positions opened: 43 | Existing positions closed: 52
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
5 analyst ratings
B of A Securities John Murphy 61% 1-year accuracy 14 / 23 met price target | 33%upside $305 | Buy Maintained | 14 Oct 2024 |
Morgan Stanley Adam Jonas 45% 1-year accuracy 23 / 51 met price target | 5%upside $240 | Equal-Weight Upgraded | 25 Sept 2024 |
Stephens & Co. Jeff Lick 25% 1-year accuracy 1 / 4 met price target | 6%downside $216 | Equal-Weight Initiated | 12 Sept 2024 |
JP Morgan Rajat Gupta 67% 1-year accuracy 14 / 21 met price target | 15%upside $265 | Neutral Maintained | 10 Sept 2024 |
Morgan Stanley Adam Jonas 45% 1-year accuracy 23 / 51 met price target | 17%downside $190 | Underweight Maintained | 14 Aug 2024 |
Financial journalist opinion
Based on 3 articles about ABG published over the past 30 days
