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Asbury Automotive Is Trading Lower On Heels Of Q1 Earnings Report

Shares of Asbury Automotive Group Inc (NYSE:ABG) are trading at $213.99 each; that’s down by more than 3.4% at last check Thursday. The Duluth, Georgia-based company reported first-quarter earnings per share of $7.21, missing the street view of $7.76 due to a tight inventory market and volume challenges.  Quarterly sales of $4.201 billion missed the street view of $4.264 billion. Revenue, however, increased 17% year over year. Gross profit increased 8% year-over-year to ...