Ameriprise Financial Inc. trimmed its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,997 shares of the company's stock after selling 2,533 shares during the period. Ameriprise Financial Inc. owned 0.31% of Asbury Automotive Group worth $14,824,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth about $25,000. CIBC Private Wealth Group LLC lifted its position 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 worth $117,000 after acquiring an additional 41 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Asbury Automotive Group by 234.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock worth $122,000 after acquiring an additional 351 shares during the period. Headlands Technologies LLC boosted its holdings in Asbury Automotive Group by 275.2% in the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after acquiring an additional 443 shares during the period. Finally, Sterling Capital Management LLC grew its position in Asbury Automotive Group by 801.4% in the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock valued at $153,000 after acquiring an additional 561 shares in the last quarter.
Asbury Automotive Group Stock Down 2.8%
Shares of ABG stock traded down $6.41 during trading hours on Wednesday, hitting $225.30. 186,462 shares of the company were exchanged, compared to its average volume of 201,592. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 10.47 and a beta of 0.98. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The business's 50-day simple moving average is $225.65 and its two-hundred day simple moving average is $249.25.
Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the firm posted $7.21 earnings per share. Asbury Automotive Group's revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ABG has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price on the stock. Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. StockNews.com upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Stephens lifted their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reduced their price target on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has a consensus rating of "Hold" and an average target price of $258.50.
Check Out Our Latest Analysis on ABG
About Asbury Automotive Group
(
Free Report)
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.
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