Janney Montgomery Scott LLC acquired a new position in Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,737 shares of the company’s stock, valued at approximately $1,925,000. Janney Montgomery Scott LLC owned 0.06% of Asbury Automotive Group as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in ABG. Capital Research Global Investors raised its position in Asbury Automotive Group by 35.4% in the first quarter. Capital Research Global Investors now owns 761,102 shares of the company’s stock worth $121,929,000 after acquiring an additional 198,985 shares during the period. Goldman Sachs Group Inc. raised its position in Asbury Automotive Group by 360.5% in the second quarter. Goldman Sachs Group Inc. now owns 241,841 shares of the company’s stock worth $40,953,000 after acquiring an additional 189,329 shares during the period. River Road Asset Management LLC bought a new stake in Asbury Automotive Group in the second quarter worth about $30,781,000. Vanguard Group Inc. raised its position in Asbury Automotive Group by 5.0% in the first quarter. Vanguard Group Inc. now owns 2,577,260 shares of the company’s stock worth $412,878,000 after acquiring an additional 122,138 shares during the period. Finally, Eminence Capital LP raised its position in shares of Asbury Automotive Group by 32.2% in the second quarter. Eminence Capital LP now owns 425,097 shares of the company’s stock valued at $71,986,000 after purchasing an additional 103,633 shares during the period.
Asbury Automotive Group Stock Performance
Asbury Automotive Group stock opened at $189.05 on Friday. The firm’s 50 day simple moving average is $177.13 and its 200 day simple moving average is $170.08. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $4.18 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 0.35 and a beta of 1.14. Asbury Automotive Group, Inc. has a 1-year low of $138.88 and a 1-year high of $203.92.
Asbury Automotive Group (NYSE:ABG – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $9.23 earnings per share for the quarter, topping analysts’ consensus estimates of $9.19 by $0.04. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.96 billion. Asbury Automotive Group had a net margin of 5.46% and a return on equity of 34.33%. Asbury Automotive Group’s revenue was up 60.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.36 EPS. As a group, analysts expect that Asbury Automotive Group, Inc. will post 37.09 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have recently issued reports on ABG. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $205.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, October 6th. StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 8th.
About Asbury Automotive Group
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Asbury Automotive Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Asbury Automotive Group wasn’t on the list.
While Asbury Automotive Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.