Stock is up at $56.05 (ABG) Asbury Automotive Group Announces Third…

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Asbury Automotive Group Inc (NYSE:ABG):

Asbury Automotive Group Announces Third Quarter 2017 Financial Results.

In the market the company is trading up since yesterday’s close of 55.85.

Asbury Automotive Group, Inc., launched on February 15, 2002, is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida. Its stores offer a range of automotive products and services, including new and used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance. Its new vehicle revenues include new vehicle sales and lease transactions arranged by dealerships with third-party financial institutions..

The stock last traded at $56.05 barely below $58.62, the 50 day moving average and which is a tad under the 200 day moving average of $56.64. The 50 day moving average moved down $-2.57 whereas the 200 day average was down by -1.04%.

Asbury Automotive Group Inc’s P/E ratio is 7.29 and the market cap of the company is 1.17B. In the latest earnings report the EPS was $7.69 and is expected to be $6.29 for the current year with 20,835,000 shares now outstanding. Next quarter’s EPS is expected be $1.61 with next year’s EPS projected to be $6.46.

Traders are feeling more bullish on the company lately if you take into consideration the change in short interest. The firm experienced a fall in short interest of -16.62% between September 15, 2017 and September 29, 2017. Short shares fell 360,824 over that period. Days to cover increased from 11.0 to 12.0 and the percentage of shorted shares is 0.09% as of September 29.

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