Lazard Asset Management LLC Raises Stock Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

Lazard Asset Management LLC lifted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 42.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,055 shares of the company's stock after buying an additional 1,201 shares during the quarter. Lazard Asset Management LLC's holdings in Asbury Automotive Group were worth $985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Asbury Automotive Group in the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC increased its holdings 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 purchasing an additional 41 shares during the period. Smartleaf Asset Management LLC increased its holdings in Asbury Automotive Group by 234.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 501 shares of the company's stock worth $122,000 after purchasing an additional 351 shares during the period. Headlands Technologies LLC increased its holdings in Asbury Automotive Group by 275.2% during the 4th quarter. Headlands Technologies LLC now owns 604 shares of the company's stock worth $147,000 after purchasing an additional 443 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Asbury Automotive Group by 801.4% during the 4th quarter. Sterling Capital Management LLC now owns 631 shares of the company's stock worth $153,000 after purchasing an additional 561 shares during the period.

Asbury Automotive Group Stock Down 0.6%

Shares of NYSE ABG opened at $233.64 on Tuesday. 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 $4.59 billion, a PE ratio of 10.86 and a beta of 0.98. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The stock's fifty day simple moving average is $225.56 and its two-hundred day simple moving average is $249.38.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its 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 16.29% and a net margin of 2.50%. The business had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter last year, the firm earned $7.21 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ABG. Craig Hallum downgraded Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Stephens raised their price objective on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. StockNews.com raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Citigroup began coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price on the stock. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $258.50.

Insider Buying and Selling

In related news, COO Daniel Clara sold 1,217 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now directly owns 3,747 shares in the company, valued at $1,111,510.08. The trade was a 24.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.59% of the stock is owned by company insiders.

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.

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