American Century Companies Inc. Makes New Investment in Asbury Automotive Group, Inc. $ABG

Key Points

• American Century Companies Inc. acquired 37,827 shares of Asbury Automotive Group, valued at approximately $8.35 million, increasing its ownership to 0.19%.
• Asbury Automotive Group reported $7.43 EPS for the last quarter, exceeding analysts' estimates by $0.61, while revenue rose by 3% year-over-year.
• Despite several analysts issuing varied stock ratings, the consensus remains a "Hold" with an average price target of $254.00 for Asbury Automotive Group shares.

American Century Companies Inc. bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 37,827 shares of the company's stock, valued at approximately $8,354,000. American Century Companies Inc. owned 0.19% of Asbury Automotive Group as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Brandywine Global Investment Management LLC increased its stake in Asbury Automotive Group by 4.7% in the 1st quarter. Brandywine Global Investment Management LLC now owns 71,354 shares of the company's stock worth $15,758,000 after purchasing an additional 3,183 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Asbury Automotive Group in the 1st quarter worth about $543,000. Robotti Robert purchased a new position in Asbury Automotive Group in the 1st quarter worth about $4,476,000. Caitong International Asset Management Co. Ltd purchased a new position in Asbury Automotive Group in the 1st quarter worth about $49,000. Finally, Russell Investments Group Ltd. increased its stake in Asbury Automotive Group by 51.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,027 shares of the company's stock worth $2,214,000 after purchasing an additional 3,410 shares in the last quarter.

Asbury Automotive Group Stock Up 0.8%

Shares of Asbury Automotive Group stock traded up $1.93 during trading on Tuesday, hitting $253.47. 146,459 shares of the stock traded hands, compared to its average volume of 154,584. The stock has a market cap of $4.98 billion, a P/E ratio of 9.26, a PEG ratio of 1.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 1.30. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a fifty day moving average price of $242.16 and a two-hundred day moving average price of $238.19.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.82 by $0.61. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The firm's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.40 EPS. Equities research analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Bank of America lifted their price target on Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Cfra set a $225.00 price target on Asbury Automotive Group in a research note on Tuesday, July 29th. Morgan Stanley raised their price objective on Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Stephens upgraded Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $225.00 to $277.00 in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $254.00.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $244.10, for a total value of $152,562.50. Following the transaction, the director directly owned 6,855 shares of the company's stock, valued at $1,673,305.50. The trade was a 8.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jed Milstein sold 1,132 shares of Asbury Automotive Group stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $253.26, for a total value of $286,690.32. Following the completion of the transaction, the senior vice president directly owned 11,267 shares in the company, valued at approximately $2,853,480.42. This represents a 9.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,957 shares of company stock valued at $745,501 in the last quarter. Corporate insiders own 0.53% of the company's stock.

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.