Swiss National Bank Lowers Stock Holdings in Asbury Automotive Group, Inc. $ABG

Key Points

• Swiss National Bank reduced its stake in Asbury Automotive Group by 3.4%, now holding 34,200 shares valued at approximately $7.55 million.
• Asbury Automotive Group's stock currently stands at $240.64, with analysts expecting earnings per share of $26.28 for the current year.
• Several analysts have recent upgrades for Asbury, including Bank of America raising its price target from $325.00 to $335.00, reflecting strong market optimism.

Swiss National Bank decreased its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,200 shares of the company's stock after selling 1,200 shares during the period. Swiss National Bank owned about 0.17% of Asbury Automotive Group worth $7,553,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ABG. LPL Financial LLC lifted its stake in Asbury Automotive Group by 12.4% in the fourth quarter. LPL Financial LLC now owns 4,638 shares of the company's stock valued at $1,127,000 after purchasing an additional 512 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Asbury Automotive Group by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,279 shares of the company's stock worth $2,984,000 after acquiring an additional 173 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Asbury Automotive Group by 2.0% during the fourth quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock worth $608,000 after acquiring an additional 48 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Asbury Automotive Group by 801.4% during the fourth quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after acquiring an additional 561 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Asbury Automotive Group by 3.7% during the fourth quarter. Mariner LLC now owns 1,856 shares of the company's stock worth $451,000 after acquiring an additional 67 shares in the last quarter.

Insider Activity

In related news, Director Juanita T. James sold 625 shares of the stock in a transaction 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 sale, the director owned 6,855 shares in the company, valued at approximately $1,673,305.50. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company's stock.

Asbury Automotive Group Price Performance

Shares of ABG stock traded down $1.2610 on Thursday, reaching $239.5890. The company's stock had a trading volume of 127,447 shares, compared to its average volume of 225,283. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The company has a market capitalization of $4.71 billion, a P/E ratio of 8.75, a PEG ratio of 1.59 and a beta of 0.87. The stock's 50 day simple moving average is $239.55 and its 200-day simple moving average is $241.11.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.82 by $0.61. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%.The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the business posted $6.40 earnings per share. The firm's revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Morgan Stanley increased their target price 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 increased their target price on Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Cfra set a $225.00 target price on Asbury Automotive Group in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $254.00.

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.