Asbury Automotive down after it moves to acquire dealership chain

Asbury Automotive

18/02/2025 20:31

* Asbury Automotive Group shares  ABG.N  down ~1.5% at $298.85
after co says it would acquire automotive dealerships owned by
Herb Chambers Companies 
    ** Deal for Herb Chambers' 33 dealerships, 52 franchises and
three collision centers valued at $1.34 bln
    ** ABG up ~24.8% YTD vs NASDAQ Composite Index's  .IXIC 
~3.5% increase.
    ** 8 analysts cover ABG, on avg rating it "HOLD". The
breakdown of recommendations are no "strong buy" or "buy," 8
"hold" and no "sell" or "strong sell."
    ** ABG median PT is $270.00 vs PT of $242.50 a month ago
according to LSEG 

 (Reporting by Alden Bentley)
 ((alden. bentley@thomsonreuters.com; 646-281-6041;))