Comerica Bank Increases Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Comerica Bank grew its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,103 shares of the company's stock after buying an additional 1,656 shares during the period. Comerica Bank's holdings in Asbury Automotive Group were worth $2,212,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new position in Asbury Automotive Group in the fourth quarter valued at $25,000. CIBC Private Wealth Group LLC increased its position in shares of Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock valued at $122,000 after buying an additional 351 shares in the last quarter. Headlands Technologies LLC boosted its stake in Asbury Automotive Group by 275.2% in the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after buying an additional 443 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in Asbury Automotive Group by 801.4% during the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after acquiring an additional 561 shares during the last quarter.

Asbury Automotive Group Stock Up 3.8 %

NYSE ABG opened at $226.22 on Friday. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The stock has a market capitalization of $4.45 billion, a PE ratio of 10.52 and a beta of 0.98. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The business's 50-day moving average is $228.12 and its 200 day moving average is $248.77.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. Asbury Automotive Group's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.21 earnings per share. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Insider Activity at Asbury Automotive Group

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total transaction of $361,010.88. Following the sale, the chief operating officer now owns 3,747 shares of the company's stock, valued at approximately $1,111,510.08. The trade was a 24.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup initiated coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective for the company. Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Asbury Automotive Group currently has a consensus rating of "Hold" and a consensus price target of $258.50.

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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