Comerica Bank grew its stake in Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,163 shares of the company’s stock after purchasing an additional 948 shares during the quarter. Comerica Bank’s holdings in Asbury Automotive Group were worth $3,422,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of ABG. State Street Corp raised its stake in Asbury Automotive Group by 14.7% during the fourth quarter. State Street Corp now owns 791,646 shares of the company’s stock worth $136,741,000 after acquiring an additional 101,755 shares during the period. Congress Asset Management Co. MA raised its stake in Asbury Automotive Group by 11.5% during the first quarter. Congress Asset Management Co. MA now owns 748,183 shares of the company’s stock worth $119,859,000 after acquiring an additional 76,929 shares during the period. Dimensional Fund Advisors LP raised its stake in Asbury Automotive Group by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 742,439 shares of the company’s stock worth $128,237,000 after acquiring an additional 12,755 shares during the period. Simcoe Capital Management LLC raised its stake in Asbury Automotive Group by 10.5% during the fourth quarter. Simcoe Capital Management LLC now owns 721,990 shares of the company’s stock worth $124,709,000 after acquiring an additional 68,635 shares during the period. Finally, Capital Research Global Investors raised its stake in Asbury Automotive Group by 16.9% during the fourth quarter. Capital Research Global Investors now owns 562,117 shares of the company’s stock worth $97,094,000 after acquiring an additional 81,133 shares during the period.
Asbury Automotive Group Price Performance
Shares of NYSE:ABG opened at $174.96 on Wednesday. The firm’s 50 day moving average is $174.69 and its two-hundred day moving average is $173.55. Asbury Automotive Group, Inc. has a 52 week low of $146.43 and a 52 week high of $230.96. The firm has a market capitalization of $3.87 billion, a P/E ratio of 5.44, a PEG ratio of 0.25 and a beta of 1.19. The company has a current ratio of 1.14, a quick ratio of 0.70 and a debt-to-equity ratio of 1.53.
Asbury Automotive Group (NYSE:ABG – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.92 by $0.35. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Asbury Automotive Group had a net margin of 5.86% and a return on equity of 39.72%. The business’s revenue was up 78.4% on a year-over-year basis. During the same period last year, the firm posted $4.68 earnings per share. Analysts anticipate that Asbury Automotive Group, Inc. will post 35.38 earnings per share for the current year.
Analyst Upgrades and Downgrades
ABG has been the topic of several analyst reports. StockNews.com lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $215.00 to $195.00 in a research note on Friday, July 15th. Finally, Morgan Stanley dropped their price target on shares of Asbury Automotive Group from $152.00 to $130.00 and set an “underweight” rating on the stock in a research note on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of “Hold” and an average target price of $200.00.
Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.
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