Snowden Capital Advisors LLC bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,112 shares of the company's stock, valued at approximately $270,000.
Several other hedge funds also recently modified their holdings of the business. Madison Investment Advisors LLC bought a new position in Asbury Automotive Group during the fourth quarter worth about $82,426,000. Norges Bank acquired a new stake in shares of Asbury Automotive Group in the 4th quarter valued at approximately $82,079,000. Artisan Partners Limited Partnership bought a new position in Asbury Automotive Group during the 4th quarter worth approximately $51,118,000. Eminence Capital LP grew its holdings in Asbury Automotive Group by 15.8% during the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company's stock valued at $191,453,000 after purchasing an additional 107,317 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Asbury Automotive Group by 18.9% during the fourth quarter. JPMorgan Chase & Co. now owns 186,306 shares of the company's stock valued at $45,278,000 after purchasing an additional 29,579 shares during the period.
Asbury Automotive Group Stock Performance
ABG stock traded up $0.04 during trading hours on Wednesday, reaching $229.75. The stock had a trading volume of 16,305 shares, compared to its average volume of 201,197. The stock has a 50-day simple moving average of $224.99 and a 200 day simple moving average of $248.37. 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 capitalization of $4.52 billion, a PE ratio of 10.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.
Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $7.21 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ABG has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $290.00 to $250.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. 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 research note on Tuesday, February 11th. Craig Hallum lowered Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Bank of America began coverage on Asbury Automotive Group in a report on Wednesday. They issued a "buy" rating and a $325.00 price target for the company. Finally, Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $261.83.
Read Our Latest Analysis on Asbury Automotive Group
About Asbury Automotive Group
(
Free Report)
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.
See Also
Before you consider Asbury Automotive Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Asbury Automotive Group wasn't on the list.
While Asbury Automotive Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
