Asbury Automotive Group, Inc. (NYSE:ABG) Shares Bought by Comerica Bank

Comerica Bank raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 22.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,103 shares of the company's stock after purchasing an additional 1,656 shares during the quarter. 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 large investors also recently made changes to their positions in ABG. Aster Capital Management DIFC Ltd bought a new position in Asbury Automotive Group during the 4th quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its position in shares of Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after buying an additional 41 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock worth $122,000 after acquiring an additional 351 shares during the last quarter. Headlands Technologies LLC increased its stake in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after buying an additional 443 shares during 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 buying an additional 561 shares during the period.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded down $2.38 during trading on Wednesday, hitting $237.44. The stock had a trading volume of 44,047 shares, compared to its average volume of 202,580. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.04 and a beta of 0.98. The stock has a 50-day simple moving average of $226.68 and a two-hundred day simple moving average of $249.09. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56.

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

Insider Activity

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm's 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 completion of the transaction, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.59% of the company's stock.

Analysts Set New Price Targets

ABG has been the subject of several research analyst reports. Stephens lifted their target price on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Citigroup initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target on the stock. Finally, StockNews.com raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $258.50.

Asbury Automotive Group 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.