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

Bridges Investment Management Inc. lifted 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 13F filing with the Securities and Exchange Commission (SEC). The firm 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 recently made changes to their positions in the company. Madison Investment Advisors LLC acquired a new position in Asbury Automotive Group during the fourth quarter worth $82,426,000. Norges Bank acquired a new position in Asbury Automotive Group during the fourth quarter worth $82,079,000. Artisan Partners Limited Partnership acquired a new position in Asbury Automotive Group during the fourth quarter worth $51,118,000. GAMMA Investing LLC raised its position in Asbury Automotive Group by 30,639.2% during the first quarter. GAMMA Investing LLC now owns 129,412 shares of the company's stock worth $285,790,000 after acquiring an additional 128,991 shares during the period. Finally, Eminence Capital LP raised its position in Asbury Automotive Group by 15.8% during the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company's stock worth $191,453,000 after acquiring an additional 107,317 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABG shares. Bank of America increased their target price on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a report on Monday, June 16th. Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup assumed coverage on shares of 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, JPMorgan Chase & Co. dropped their target price on shares of 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Asbury Automotive Group presently has a consensus rating of "Hold" and an average target price of $263.50.

Asbury Automotive Group Trading Up 2.0%

Shares of ABG traded up $5.18 during mid-day trading on Thursday, reaching $266.19. The stock had a trading volume of 327,847 shares, compared to its average volume of 198,307. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 0.55. The business's fifty day moving average is $236.74 and its 200 day moving average is $244.95. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.64 and a beta of 0.96.

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

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.