Bridges Investment Management Inc. Grows Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Bridges Investment Management Inc. boosted its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 119.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,641 shares of the company's stock after purchasing an additional 4,695 shares during the period. Bridges Investment Management Inc.'s holdings in Asbury Automotive Group were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ABG. Aster Capital Management DIFC Ltd bought a new stake in Asbury Automotive Group during the 4th quarter valued at about $25,000. Versant Capital Management Inc increased its position in shares of Asbury Automotive Group by 43.9% during the first quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after acquiring an additional 50 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after acquiring an additional 41 shares during the period. GAMMA Investing LLC raised its stake 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 valued at $129,000 after acquiring an additional 165 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of Asbury Automotive Group by 275.2% in the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company's stock valued at $147,000 after purchasing an additional 443 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on ABG. Citigroup began coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price objective on the stock. Bank of America increased their price target 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. JPMorgan Chase & Co. decreased 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $263.50.

Asbury Automotive Group Stock Down 1.2%

Shares of NYSE:ABG traded down $3.22 during trading on Friday, reaching $262.75. The stock had a trading volume of 92,103 shares, compared to its average volume of 197,947. The firm's 50-day simple moving average is $237.55 and its 200 day simple moving average is $245.01. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.83. Asbury Automotive Group, Inc. has a one year low of $201.68 and a one year high of $312.56. The company has a market capitalization of $5.17 billion, a P/E ratio of 12.51, a PEG ratio of 1.70 and a beta of 0.96.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.42% and a return on equity of 15.41%. The firm had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same period in the previous year, the company earned $7.21 EPS. The company's revenue was down 1.3% on a year-over-year basis. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Asbury Automotive Group Company 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.