ABG Stock Summary and Trading Ideas (Asbury Automotive Group | NYSE:ABG)

Asbury Automotive Group is a regional collection of automobile dealerships that went public in March 2002. The company operates 139 new vehicle stores, seven used vehicle stores, and 32 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 14 states (mostly Texas, the West, and the Southeast). Asbury store brands include David McDavid and Park Place in Texas, Plaza in Missouri, Nalley and Crown in the Southeastern U.S., and the Larry H. Miller brand in the Western U.S. Asbury generated $15.4 billion of revenue in 2022 and is based in the Atlanta area. The firm targets about $32 billion in 2025.

Asbury Automotive Group trades on the NYSE stock market under the symbol ABG.

As of June 2, 2023, ABG stock price climbed to $218.49 with 186,097 million shares trading.

ABG has a beta of 1.21, meaning it tends to be more sensitive to market movements. ABG has a correlation of 0.34 to the broad based SPY ETF.

ABG has a market cap of $4.74 billion. This is considered a Mid Cap stock.

Last quarter Asbury Automotive Group reported $4 billion in Revenue and $8.37 earnings per share. This fell short of revenue expectation by $-208 million and exceeded earnings estimates by $.38.

In the last 3 years, ABG stock traded as high as $253.67 and as low as $71.96.

The top ETF exchange traded funds that ABG belongs to (by Net Assets): IJR, VTI, VB, IWM, VBR.

ABG has outperformed the market in the last year with a price return of +20.1% while the SPY ETF gained +4.1%. However, in the short term, ABG had mixed performance relative to the market. It has underperformed in the last 3 months, returning -6.1% vs +7.9% return in SPY. But in the last 2 weeks, ABG shares have fared better than the market returning +7.0% compared to SPY +2.2%.

ABG support price is $200.03 and resistance is $209.75 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ABG stock will trade within this expected range on the day.