SG Americas Securities LLC Purchases New Position in Asbury Automotive Group, Inc. (NYSE:ABG)

SG Americas Securities LLC acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,032 shares of the company's stock, valued at approximately $1,111,000.

Other hedge funds have also recently made changes to their positions in the company. GoodHaven Capital Management LLC purchased a new stake in shares of Asbury Automotive Group during the 4th quarter worth $2,916,000. Magnolia Group LLC lifted its stake in shares of Asbury Automotive Group by 2.1% during the 4th quarter. Magnolia Group LLC now owns 149,123 shares of the company's stock worth $36,241,000 after purchasing an additional 3,000 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Asbury Automotive Group by 108.4% during the 4th quarter. Millennium Management LLC now owns 20,087 shares of the company's stock worth $4,882,000 after purchasing an additional 10,448 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Asbury Automotive Group by 52.3% during the 4th quarter. Intech Investment Management LLC now owns 7,805 shares of the company's stock worth $1,897,000 after purchasing an additional 2,680 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Asbury Automotive Group by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company's stock worth $51,465,000 after purchasing an additional 3,273 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded up $1.84 during trading on Friday, hitting $237.63. The stock had a trading volume of 382,457 shares, compared to its average volume of 201,017. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.52 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. The stock has a 50-day simple moving average of $228.26 and a two-hundred day simple moving average of $245.21.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced 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 15.41% and a net margin of 2.42%. The firm had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the business earned $7.21 earnings per share. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABG shares. JPMorgan Chase & Co. decreased 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 upgraded Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Bank of America increased their price target on Asbury Automotive Group from $325.00 to $335.00 and gave the company a "buy" rating in a research note on Monday. Finally, Citigroup initiated coverage on Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $236.00 price target for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $263.50.

Asbury Automotive Group Company 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.