Charles Schwab Investment Management Inc. Purchases 2,230 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Asbury Automotive Group by 1.1%, owning 213,996 shares valued at approximately $47.26 million after acquiring an additional 2,230 shares.
• Asbury Automotive Group reported $7.43 earnings per share (EPS) for the quarter, exceeding expectations and showing a 3.0% annual revenue increase despite a miss on revenue forecasts.
• Analysts have mixed insights on Asbury Automotive: JPMorgan downgraded its rating while Stephens upgraded it, reflecting a broad consensus rating of "Hold" with a price target of $254.00.

Charles Schwab Investment Management Inc. raised its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,996 shares of the company's stock after buying an additional 2,230 shares during the period. Charles Schwab Investment Management Inc. owned about 1.09% of Asbury Automotive Group worth $47,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Asbury Automotive Group by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company's stock worth $269,322,000 after buying an additional 9,688 shares in the last quarter. Eminence Capital LP increased its holdings in shares of 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 buying an additional 107,317 shares in the last quarter. Madison Asset Management LLC increased its holdings in shares of Asbury Automotive Group by 10.1% during the first quarter. Madison Asset Management LLC now owns 373,320 shares of the company's stock worth $82,444,000 after buying an additional 34,160 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Asbury Automotive Group by 9.1% during the fourth quarter. Northern Trust Corp now owns 239,007 shares of the company's stock worth $58,086,000 after buying an additional 19,923 shares in the last quarter. Finally, Magnolia Group LLC increased its holdings in shares of Asbury Automotive Group by 50.6% during the first quarter. Magnolia Group LLC now owns 224,623 shares of the company's stock worth $49,606,000 after buying an additional 75,500 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating for the company in a report on Tuesday, August 5th. Wall Street Zen raised shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Bank of America raised their price target on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a report on Monday, June 16th. Finally, Citigroup started coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Asbury Automotive Group has a consensus rating of "Hold" and an average target price of $254.00.

Insider Transactions at Asbury Automotive Group

In other Asbury Automotive Group news, Director Juanita T. James sold 625 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $244.10, for a total value of $152,562.50. Following the transaction, the director directly owned 6,855 shares of the company's stock, valued at approximately $1,673,305.50. This trade represents a 8.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.59% of the company's stock.

Asbury Automotive Group Trading Down 0.5%

ABG stock traded down $1.2610 during midday trading on Thursday, reaching $239.5890. The company's stock had a trading volume of 127,447 shares, compared to its average volume of 225,283. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56. The stock has a market cap of $4.71 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. 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 business's 50-day simple moving average is $239.55 and its 200-day simple moving average is $241.11.

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