Cerity Partners LLC Boosts Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Cerity Partners LLC lifted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 278.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,857 shares of the company's stock after buying an additional 14,605 shares during the period. Cerity Partners LLC owned about 0.10% of Asbury Automotive Group worth $4,385,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ABG. Aster Capital Management DIFC Ltd bought a new position in shares of Asbury Automotive Group in the 4th quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock worth $36,000 after purchasing an additional 50 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Asbury Automotive Group by 9.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company's stock worth $117,000 after buying an additional 41 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 lifted its stake in shares of Asbury Automotive Group by 275.2% during the fourth quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after buying an additional 443 shares during the period.

Wall Street Analyst Weigh In

ABG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Asbury Automotive Group from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $235.00 to $225.00 in a research report on Thursday. Citigroup initiated coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 target price for the company. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Bank of America raised their target price on Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $259.33.

Asbury Automotive Group Stock Up 0.1%

Asbury Automotive Group stock traded up $0.15 during mid-day trading on Friday, hitting $229.67. The company had a trading volume of 175,240 shares, compared to its average volume of 197,305. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.48 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $239.74 and a 200 day moving average of $245.02.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its quarterly earnings data 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 2.42% and a return on equity of 15.41%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company posted $7.21 earnings per share. Asbury Automotive Group's revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

About Asbury Automotive Group

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.