Congress Asset Management Co. Purchases New Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Congress Asset Management Co. bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,865 shares of the company's stock, valued at approximately $412,000.

Several other hedge funds also recently bought and sold shares of the stock. Salvus Wealth Management LLC boosted its position in shares of Asbury Automotive Group by 1.5% during the first quarter. Salvus Wealth Management LLC now owns 13,699 shares of the company's stock worth $3,025,000 after buying an additional 204 shares during the period. GAMMA Investing LLC lifted its stake in Asbury Automotive Group by 30,639.2% during the 1st 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 in the last quarter. Versant Capital Management Inc boosted its holdings in Asbury Automotive Group by 43.9% during the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company's stock valued at $36,000 after acquiring an additional 50 shares during the period. Brucke Financial Inc. acquired a new position in Asbury Automotive Group in the 4th quarter valued at about $202,000. Finally, Mackenzie Financial Corp grew its position in Asbury Automotive Group by 46.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,875 shares of the company's stock valued at $456,000 after acquiring an additional 591 shares in the last quarter.

Asbury Automotive Group Stock Up 2.7%

NYSE:ABG traded up $6.32 during trading hours on Tuesday, hitting $243.80. The company's stock had a trading volume of 93,081 shares, compared to its average volume of 208,649. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.79 billion, a P/E ratio of 11.33 and a beta of 0.96. The stock has a fifty day moving average of $224.94 and a 200-day moving average of $246.54.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a return on equity of 16.29% and a net margin of 2.50%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company posted $7.21 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABG. Craig Hallum cut shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Bank of America initiated coverage on shares of Asbury Automotive Group in a report on Wednesday, May 28th. They set a "buy" rating and a $325.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. 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 research report on Tuesday, February 11th. Finally, Citigroup started 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $261.83.

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.