Why Asbury Automotive Group (ABG) Could Be an Impressive Growth Stock
Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ABG. This firm, which is in the (insert industry name) industry, saw EPS growth of 12.5% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 31.2%. Furthermore, the long-term growth rate is currently an impressive 18.5%, suggesting pretty good prospects for the long haul.
Asbury Automotive Group, Inc. Price and Consensus
Asbury Automotive Group, Inc. price-consensus-chart | Asbury Automotive Group, Inc. Quote
And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 16.8%. Thanks to this rise in earnings estimates, ABG has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider ABG. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Asbury Automotive Group, Inc. (ABG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
