Federated Hermes Inc. Has $1.45 Million Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Key Points

• Federated Hermes Inc. reduced its holdings in Asbury Automotive Group by 14.3%, owning 6,546 shares worth approximately $1.45 million at the end of the first quarter.
• Asbury Automotive Group reported a quarterly EPS of $7.43, surpassing analysts' expectations of $6.82, while its revenue was $4.37 billion, slightly below projections.
• Analysts have mixed ratings on Asbury Automotive Group, with an average rating of "Hold" and a consensus price target of $253.00, reflecting a range of target prices set by different firms.

Federated Hermes Inc. decreased its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,546 shares of the company's stock after selling 1,092 shares during the period. Federated Hermes Inc.'s holdings in Asbury Automotive Group were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at $262,000. New York State Teachers Retirement System boosted its stake in Asbury Automotive Group by 13.7% during the first quarter. New York State Teachers Retirement System now owns 14,846 shares of the company's stock valued at $3,279,000 after buying an additional 1,787 shares in the last quarter. GAMMA Investing LLC grew its holdings in Asbury Automotive Group by 39.2% during the first quarter. GAMMA Investing LLC now owns 586 shares of the company's stock worth $129,000 after acquiring an additional 165 shares during the period. TD Asset Management Inc acquired a new position in shares of Asbury Automotive Group in the 1st quarter worth approximately $6,037,000. Finally, SG Americas Securities LLC bought a new position in shares of Asbury Automotive Group in the first quarter valued at $1,111,000.

Asbury Automotive Group Stock Performance

ABG stock traded down $2.12 during midday trading on Friday, hitting $221.87. 142,035 shares of the company traded hands, compared to its average volume of 205,914. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 1.54 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 has a 50 day simple moving average of $239.07 and a 200-day simple moving average of $243.69.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted its earnings results 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. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. Asbury Automotive Group's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $6.40 EPS. As a group, equities research analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABG has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a report on Tuesday. Wall Street Zen upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Bank of America boosted their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup began coverage on shares of Asbury Automotive Group in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target on the stock. Finally, Cfra set a $225.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Asbury Automotive Group currently has an average rating of "Hold" and an average price target of $253.00.

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.