How Asbury Automotive (ABG) Stock Stands Out in a Strong Industry

This post was originally published on this site

One stock that might be an intriguing choice for investors right now is Asbury Automotive Group, Inc. ABG. This is because this security in the Automotive – Retail and Whole Sales space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

Load Error

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Automotive – Retail and Whole Sales space as it currently has a Zacks Industry Rank of 8 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Asbury Automotive is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Asbury Automotive Group, Inc. Price and Consensus

© Provided by Zacks.com Asbury Automotive Group, Inc. Price and Consensus

Asbury Automotive Group, Inc. price-consensus-chart | Asbury Automotive Group, Inc. Quote

In fact, over the past month, current quarter estimates have risen from $3.69 per share to $4.36 per share, while current year estimates have risen from $14.97 per share to $17.17 per share. This has helped ABG to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider Asbury Automotive. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Continue Reading