UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,563 shares of the company's stock after purchasing an additional 9,418 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Asbury Automotive Group worth $12,045,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ABG. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC boosted its holdings in Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock valued at $117,000 after acquiring an additional 41 shares during the period. Smartleaf Asset Management LLC grew its position in Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock valued at $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 fourth quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after purchasing an additional 443 shares during the period. Finally, Sterling Capital Management LLC increased its stake in Asbury Automotive Group by 801.4% in the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after purchasing an additional 561 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Craig Hallum lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Bank of America initiated coverage on shares of Asbury Automotive Group in a research report on Wednesday, May 28th. They issued a "buy" rating and a $325.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Stephens boosted their price target on Asbury Automotive Group from $220.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Citigroup started coverage on Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price objective on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Asbury Automotive Group presently has an average rating of "Hold" and a consensus target price of $261.83.

Asbury Automotive Group Stock Down 1.9%

ABG stock traded down $4.54 during trading on Wednesday, hitting $229.13. 81,370 shares of the company's stock traded hands, compared to its average volume of 201,497. The firm has a market capitalization of $4.50 billion, a P/E ratio of 10.65 and a beta of 0.98. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $224.49 and a two-hundred day simple moving average of $247.12.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (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 2.50% and a return on equity of 16.29%. The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.21 earnings per share. Sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current 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.