Intech Investment Management LLC Buys 2,730 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Intech Investment Management LLC raised its stake in Asbury Automotive Group by 35.0%, now owning 10,535 shares valued at approximately $2.3 million.
• Multiple analysts have updated their target prices for Asbury Automotive Group, with Stephens increasing it significantly from $225.00 to $277.00, while JPMorgan Chase & Co. lowered it from $225.00 to $215.00.
• Asbury Automotive Group reported earnings of $7.43 per share for the last quarter, surpassing estimates and showing a 3.0% revenue increase compared to the same period last year.

Intech Investment Management LLC raised its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,535 shares of the company's stock after buying an additional 2,730 shares during the period. Intech Investment Management LLC owned 0.05% of Asbury Automotive Group worth $2,327,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Asbury Automotive Group by 43.9% during the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after purchasing an additional 50 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Asbury Automotive Group in the 1st quarter worth about $49,000. GAMMA Investing LLC increased its holdings in Asbury Automotive Group by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after purchasing an additional 165 shares in the last quarter. Brucke Financial Inc. bought a new stake in shares of Asbury Automotive Group during the 4th quarter valued at about $202,000. Finally, CWM LLC lifted its holdings in shares of Asbury Automotive Group by 7.5% in the 1st quarter. CWM LLC now owns 858 shares of the company's stock worth $189,000 after purchasing an additional 60 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stephens raised Asbury Automotive Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $225.00 to $277.00 in a report on Wednesday, August 13th. Morgan Stanley lifted their price target 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. Bank of America decreased their target price on Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating on the stock in a research note on Wednesday, September 10th. JPMorgan Chase & Co. dropped their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a report on Tuesday, August 5th. Finally, Cfra set a $225.00 price objective on Asbury Automotive Group in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Asbury Automotive Group presently has an average rating of "Hold" and a consensus target price of $249.00.

Asbury Automotive Group Trading Down 1.7%

ABG traded down $4.22 during trading on Friday, reaching $241.23. The company had a trading volume of 331,036 shares, compared to its average volume of 125,916. The stock has a market cap of $4.74 billion, a P/E ratio of 8.81, a PEG ratio of 1.57 and a beta of 0.89. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78. The business has a 50 day simple moving average of $241.15 and a 200-day simple moving average of $235.86. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, beating analysts' consensus estimates of $6.82 by $0.61. The firm had revenue of $4.37 billion for 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%.Asbury Automotive Group's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.40 earnings per share. On average, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insider Activity

In other Asbury Automotive Group news, SVP Dean Calloway sold 400 shares of Asbury Automotive Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $254.40, for a total transaction of $101,760.00. Following the completion of the sale, the senior vice president owned 5,295 shares of the company's stock, valued at $1,347,048. This trade represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Maureen F. Morrison sold 800 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $255.61, for a total transaction of $204,488.00. Following the completion of the transaction, the director owned 5,824 shares in the company, valued at approximately $1,488,672.64. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,957 shares of company stock worth $745,501 over the last ninety days. 0.59% of the stock is owned by company insiders.

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.