Vanguard Group Inc. Has $481.57 Million Position in Asbury Automotive Group, Inc. $ABG

Key Points

• Vanguard Group Inc. reduced its holdings in Asbury Automotive Group by 1.4%, owning approximately 11.09% of the company, valued at $481.57 million after selling 30,376 shares in the first quarter.
• Asbury Automotive Group reported $7.43 earnings per share, exceeding analysts' estimates of $6.82, with a net revenue of $4.37 billion for the quarter, a 3.0% year-over-year increase.
• Equities analysts are optimistic about Asbury Automotive Group, with target price upgrades from firms like Bank of America and Stephens, suggesting a consensus target price of $254.00 for the stock.

Vanguard Group Inc. lessened its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,180,640 shares of the company's stock after selling 30,376 shares during the quarter. Vanguard Group Inc. owned about 11.09% of Asbury Automotive Group worth $481,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Asbury Automotive Group in the 1st quarter valued at approximately $262,000. New York State Teachers Retirement System raised its holdings in Asbury Automotive Group by 13.7% in the first quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock worth $3,279,000 after purchasing an additional 1,787 shares during the period. GAMMA Investing LLC boosted its position in shares of Asbury Automotive Group by 39.2% during the first 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. TD Asset Management Inc acquired a new position in shares of Asbury Automotive Group in the 1st quarter valued at $6,037,000. Finally, SG Americas Securities LLC bought a new stake in shares of Asbury Automotive Group in the 1st quarter valued at $1,111,000.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock traded up $3.24 on Tuesday, hitting $243.68. The stock had a trading volume of 8,789 shares, compared to its average volume of 202,951. 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 stock has a market cap of $4.79 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. The business's 50 day moving average is $239.59 and its two-hundred day moving average is $241.44. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56.

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

Analyst Ratings Changes

A number of research firms have issued reports on ABG. Cfra set a $225.00 target price on Asbury Automotive Group in a research note on Tuesday, July 29th. Morgan Stanley upped their target price on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered 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. Finally, 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 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.