2 Stocks That Are Just Getting Started: Asbury Automotive Group Inc. (NYSE:ABG), CONMED Corporation (NYSE:CNMD)

The shares of Asbury Automotive Group Inc. (NYSE:ABG) has been pegged with a rating of Neutral by JP Morgan in its latest research note that was published on March 20, 2020. The Services company has also assigned a $69 price target. JP Morgan wasn’t the only research firm that published a report of Asbury Automotive Group Inc., with other equities research analysts also giving their opinion on the stock. JP Morgan advised investors in its research note published on March 11, 2020, to Underweight the ABG stock while also putting a $84 price target. The stock had earned Buy rating from BofA/Merrill Markets when it published its report on February 11, 2020. BofA/Merrill was of a view that ABG is Neutral in its latest report on September 13, 2019. Craig Hallum thinks that ABG is worth Buy rating. This was contained in the firm’s report on April 24, 2019 in which the stock’s price target was also moved to 90.

Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 6 believe it has the potential for further growth, thus rating it as Hold while 3 advised investors to purchase the stock. The consensus currently stands at a Overweight while its average price target is $94.38. The price of the stock the last time has raised by 49.06% from its 52-Week high price while it is -52.47% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 38.92.

The shares of the company added by 9.60% during the trading session on Wednesday, reaching a low of $53.34 while ending the day at $58.67. During the trading session, a total of 512960.0 shares were traded which represents a -100.42% decline from the average session volume which is 255940.0 shares. ABG had ended its last session trading at $53.53. Asbury Automotive Group Inc. currently has a market cap of $1.12 billion, while its P/E ratio stands at 6.13, while its P/E earnings growth sits at 0.33, with a beta of 1.68. Asbury Automotive Group Inc. debt-to-equity ratio currently stands at 2.67, while its quick ratio hovers at 0.50 ABG 52-week low price stands at $39.36 while its 52-week high price is $123.44.

The company in its last quarterly report recorded $2.53 earnings per share which is above the predicted by most analysts. The Asbury Automotive Group Inc. generated 3.5 million in revenue during the last quarter. In the second quarter last year, the firm recorded $2.33 earnings per share. Compared to the same quarter last year, the firm’s revenue was up by 13.04%. Asbury Automotive Group Inc. has the potential to record 9.00 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Needham published a research note on November 26, 2019 where it informed investors and clients that CONMED Corporation (NYSE:CNMD) is now rated as Hold. JP Morgan also rated CNMD as Initiated on November 12, 2019, with its price target of $136 suggesting that CNMD could surge by 50.59% from its current share price. Even though the stock has been trading at $48.47/share, analysts expect it to surge by 17.50% to reach $115.25/share. It started the day trading at $58.57 and traded between $47.26 and $56.95 throughout the trading session.

A look at its technical shows that CNMD’s 50-day SMA is 92.07 while its 200-day SMA stands at 97.53. The stock has a high of $116.81 for the year while the low is $37.66. The stock, however, witnessed a rise in its short on 03/13/20. Compared to previous close which recorded 0.78 M shorted shares, the short percentage went higher by 44.03%, as 1.12M ABG shares were shorted. At the moment, only 2.82% of CONMED Corporation shares were sold short. The company’s P/E ratio currently sits at 59.20, while the P/B ratio is 2.28. The company’s average trading volume currently stands at 362.43K shares, which means that the short-interest ratio is just 2.15 days. Over the past seven days, the company moved, with its shift of 33.65%. Looking further, the stock has dropped -48.26% over the past 90 days while it lost -42.01% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The BlackRock Fund Advisors bought more CNMD shares, increasing its portfolio by 2.69% during the last quarter. This move now sees The BlackRock Fund Advisors purchasing 107,307 shares in the last quarter, thus it now holds 4,091,080 shares of CNMD, with a total valuation of $387,179,811. The Vanguard Group, Inc. meanwhile bought more CNMD shares in the recently filed quarter, changing its stake to $278,404,759 worth of shares.

Similarly, Capital Research & Management Co…. decreased its CONMED Corporation shares by 5.00% during the recently filed quarter. After selling 2,156,651 shares in the last quarter, the firm now controls -113,511 shares of CONMED Corporation which are valued at $204,105,451. In the same vein, Dimensional Fund Advisors LP decreased its CONMED Corporation shares by during the most recent reported quarter. The firm sold 76,193 shares during the quarter which decreased its stakes to 1,284,761 shares and is now valued at $121,589,781. Following these latest developments, around 0.70% of CONMED Corporation stocks are owned by institutional investors and hedge funds.