Bank of America Corp DE Grows Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Bank of America Corp DE boosted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,799 shares of the company's stock after acquiring an additional 4,941 shares during the quarter. Bank of America Corp DE owned 0.60% of Asbury Automotive Group worth $28,629,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ABG. CIBC Private Wealth Group LLC boosted its holdings in shares of Asbury Automotive Group by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after purchasing an additional 41 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Asbury Automotive Group by 2.0% in the 4th quarter. Bank of Montreal Can now owns 2,502 shares of the company's stock worth $608,000 after purchasing an additional 48 shares in the last quarter. Mariner LLC boosted its holdings in shares of Asbury Automotive Group by 3.7% in the 4th quarter. Mariner LLC now owns 1,856 shares of the company's stock worth $451,000 after purchasing an additional 67 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 4.5% in the 4th quarter. HighTower Advisors LLC now owns 1,798 shares of the company's stock worth $437,000 after purchasing an additional 78 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of Asbury Automotive Group by 2.3% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,023 shares of the company's stock worth $978,000 after purchasing an additional 92 shares in the last quarter.

Asbury Automotive Group Trading Down 0.6%

ABG stock traded down $1.35 during trading on Friday, hitting $225.27. 137,740 shares of the company traded hands, compared to its average volume of 201,785. The firm has a market capitalization of $4.43 billion, a PE ratio of 10.47 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 50-day moving average of $225.22 and a 200-day moving average of $248.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the prior year, the company earned $7.21 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. Analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ABG shares. Stephens upped their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective 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. Citigroup started coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price for the company. Finally, Craig Hallum cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Asbury Automotive Group currently has an average rating of "Hold" and an average target price of $258.50.

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.