Is Asbury Automotive Group (ABG) Stock a Solid Choice Right Now?

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.

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 1 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 Group is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision

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No-deal Brexit and Covid threaten ‘double whammy’ for car industry

UK and European car makers have warned a no-deal Brexit could put a £100bn dent in the region’s car industry in the next five years, adding to heavy losses already caused by Covid-19.

A letter signed by 23 trade groups across Europe urges the government to make a deal rather than default to World Trade Organization (WTO) rules.

It says without one there will be a “catastrophic” rise in tariffs.

A government spokesperson said it is “working hard” to reach an agreement.

The industry has already taken a £90bn hit this year due to Covid-19, the SMMT added.

The UK left the European Union on 31 January but will enjoy tariff-free trade with the bloc until the end of the year as part of the transition period.

But fears are growing that both sides will be unable to strike a longer-term trade deal by then.

The European Automobile Manufacturers Association

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2 Manufacturing Tool Stocks to Watch Out For Amid Pandemic

Players in the Zacks Manufacturing-Tools & Related Products industry are gaining from improved manufacturing activities as the severity of the pandemic has softened from the second quarter of 2020. Also, a surge in business in the e-commerce platform and a heightened demand for DIY products are acting as tailwinds.

However, existing end-market challenges due to the pandemic are clouding the industry players’ growth momentum. Also, a highly leveraged balance sheet is concerning. Two companies namely Stanley Black & Decker, Inc. (SWK) and Lincoln Electric Holdings, Inc. (LECO) are selected to watch for now.

About the Industry

The Zacks Manufacturing-Tools & Related Products industry comprises companies that develop and distribute hand and mechanics tools, hydraulic tools, engineered fastening systems and motion-control systems. Arc welding products, oxy-fuel cutting equipment, plasma cutters, storage system and other related products are also produced by some tool-makers.

The highly-advanced tools are used in industrial, commercial, oil

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Berlin rules out buyer premiums for fossil-fuel cars

The German government has allocated €2bn as stimulus for the automotive industry overall. Photo: Hendrik Schmidt/Reuters
The German government has allocated €2bn as stimulus for the automotive industry overall. Photo: Hendrik Schmidt/Reuters

Germany’s automotive companies, struggling with a coronavirus-induced drop in consumer demand, are not likely to receive government support in the form of subsidies for buyer premiums to boost sales of their petrol and diesel vehicles.

Politicians, including Bavarian state premier Markus Söder had called for the government to consider buyer premiums for internal combustion cars ahead of a car summit between automotive and supplier bosses, unions, and Angela Merkel’s government on Tuesday evening.

Söder warned of “mass job losses” in the industry. Transport minister Andreas Scheuer said that the inventory of petrol and diesel vehicles must be shifted off car lots.

READ MORE: German car chiefs demand more aid amid COVID-19 slump

However, according to a paper released after the meeting and seen by the German Press Agency, there is no mention of purchase

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