Allspring Global Investments Holdings LLC Purchases New Shares in Asbury Automotive Group, Inc. (NYSE:ABG)

Allspring Global Investments Holdings LLC purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,164 shares of the company's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Asbury Automotive Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock valued at $51,465,000 after acquiring an additional 3,273 shares during the last quarter. Atria Investments Inc raised its stake in Asbury Automotive Group by 16.0% during the fourth quarter. Atria Investments Inc now owns 2,922 shares of the company's stock worth $710,000 after buying an additional 402 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Asbury Automotive Group during the fourth quarter worth $5,316,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Asbury Automotive Group by 10.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,760 shares of the company's stock worth $1,157,000 after buying an additional 456 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in Asbury Automotive Group during the fourth quarter worth $3,290,000.

Wall Street Analyst Weigh In

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

Asbury Automotive Group Stock Down 5.0%

Shares of NYSE:ABG traded down $13.05 during midday trading on Tuesday, hitting $250.28. 128,913 shares of the company's stock were exchanged, compared to its average volume of 197,250. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 0.55. The stock has a 50 day moving average price of $237.55 and a 200-day moving average price of $245.01. The company has a market cap of $4.92 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.96. 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 released its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.31 billion. Asbury Automotive Group had a net margin of 2.42% and a return on equity of 15.41%. The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $7.21 earnings per share. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

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.