Advisor Resource Council Buys Shares of 2,196 Asbury Automotive Group, Inc. (NYSE:ABG)

Advisor Resource Council bought a new position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,196 shares of the company's stock, valued at approximately $455,000.

Other hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Asbury Automotive Group during the fourth quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in Asbury Automotive Group by 43.9% in the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after acquiring an additional 50 shares during the period. CIBC Private Wealth Group LLC lifted its stake in Asbury Automotive Group by 9.3% in the fourth 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 lifted its position 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 during the last quarter. Finally, GAMMA Investing LLC boosted its position in Asbury Automotive Group by 39.2% during the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ABG. JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Citigroup assumed coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective for the company. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Bank of America lifted their price target on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $263.50.

Asbury Automotive Group Price Performance

Shares of NYSE ABG traded down $1.08 during mid-day trading on Thursday, hitting $239.65. 107,736 shares of the company's stock traded hands, compared to its average volume of 198,383. The company has a market capitalization of $4.71 billion, a P/E ratio of 11.41, a PEG ratio of 1.55 and a beta of 0.96. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company's 50-day moving average is $229.93 and its two-hundred day moving average is $244.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 0.55.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share 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 the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $7.21 earnings per share. On average, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

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.