New York State Teachers Retirement System Buys 1,787 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

New York State Teachers Retirement System increased its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 13.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,846 shares of the company's stock after acquiring an additional 1,787 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Asbury Automotive Group worth $3,279,000 at the end of the most recent reporting period.

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 stake in shares of Asbury Automotive Group in the first quarter valued at $262,000. Highland Capital Management LLC raised its position in Asbury Automotive Group by 23.8% in the first quarter. Highland Capital Management LLC now owns 1,099 shares of the company's stock worth $243,000 after acquiring an additional 211 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Asbury Automotive Group by 73.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 18,820 shares of the company's stock valued at $4,156,000 after purchasing an additional 7,953 shares in the last quarter. Advisor Resource Council bought a new position in shares of Asbury Automotive Group during the 1st quarter valued at about $455,000. Finally, Vista Finance LLC grew its stake in shares of Asbury Automotive Group by 7.0% in the 1st quarter. Vista Finance LLC now owns 982 shares of the company's stock worth $217,000 after purchasing an additional 64 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on ABG shares. Citigroup started coverage on shares of Asbury Automotive Group in a report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on 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. Wall Street Zen raised Asbury Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Bank of America upped their price objective on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $263.50.

Asbury Automotive Group Stock Up 2.7%

NYSE:ABG traded up $6.77 during mid-day trading on Wednesday, reaching $260.86. The stock had a trading volume of 119,150 shares, compared to its average volume of 197,636. The business's 50 day moving average is $235.79 and its 200 day moving average is $244.79. Asbury Automotive Group, Inc. has a fifty-two week low of $201.68 and a fifty-two week high of $312.56. The stock has a market cap of $5.13 billion, a P/E ratio of 12.42, a PEG ratio of 1.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 0.55.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company posted $7.21 EPS. The company's quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current 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.