Edgestream Partners L.P. Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Edgestream Partners L.P. acquired a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,884 shares of the company's stock, valued at approximately $5,054,000. Edgestream Partners L.P. owned about 0.12% of Asbury Automotive Group at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Asbury Automotive Group by 10.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,760 shares of the company's stock valued at $1,157,000 after purchasing an additional 456 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Asbury Automotive Group by 4.5% in the fourth quarter. HighTower Advisors LLC now owns 1,798 shares of the company's stock valued at $437,000 after purchasing an additional 78 shares during the period. Natixis Advisors LLC raised its position in shares of Asbury Automotive Group by 10.8% in the fourth quarter. Natixis Advisors LLC now owns 123,369 shares of the company's stock valued at $29,982,000 after purchasing an additional 11,995 shares during the period. Cibc World Markets Corp purchased a new position in Asbury Automotive Group during the fourth quarter valued at approximately $447,000. Finally, Intech Investment Management LLC grew its stake in Asbury Automotive Group by 52.3% during the fourth quarter. Intech Investment Management LLC now owns 7,805 shares of the company's stock valued at $1,897,000 after acquiring an additional 2,680 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Asbury Automotive Group Price Performance

NYSE:ABG traded up $0.15 during trading hours on Friday, hitting $229.67. 175,240 shares of the stock traded hands, compared to its average volume of 197,168. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth 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. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The stock has a 50 day moving average price of $239.74 and a 200 day moving average price of $245.01.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings results 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 return on equity of 15.41% and a net margin of 2.42%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the firm posted $7.21 EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts forecast 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.