TD Asset Management Inc Makes New Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Key Points

• TD Asset Management Inc has acquired a new stake in Asbury Automotive Group, purchasing 27,335 shares valued at approximately $6 million.
• Several hedge funds, including Dimensional Fund Advisors LP and Eminence Capital LP, have also increased their holdings in Asbury Automotive Group during the past quarters.
• Asbury Automotive's stock recently traded at $223.41, with the company reporting earnings of $7.43 per share, surpassing analysts' estimates for the quarter.

TD Asset Management Inc acquired a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 27,335 shares of the company's stock, valued at approximately $6,037,000. TD Asset Management Inc owned 0.14% of Asbury Automotive Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ABG. Dimensional Fund Advisors LP increased its holdings in Asbury Automotive Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,108,176 shares of the company's stock valued at $269,322,000 after acquiring an additional 9,688 shares in the last quarter. Eminence Capital LP raised its stake in Asbury Automotive Group by 15.8% during the fourth quarter. Eminence Capital LP now owns 787,775 shares of the company's stock worth $191,453,000 after purchasing an additional 107,317 shares during the period. Timucuan Asset Management Inc. FL increased its holdings in shares of Asbury Automotive Group by 0.5% during the 4th quarter. Timucuan Asset Management Inc. FL now owns 707,874 shares of the company's stock worth $172,035,000 after buying an additional 3,490 shares during the last quarter. Madison Asset Management LLC boosted its holdings in Asbury Automotive Group by 10.1% in the first quarter. Madison Asset Management LLC now owns 373,320 shares of the company's stock valued at $82,444,000 after acquiring an additional 34,160 shares during the last quarter. Finally, Northern Trust Corp grew its position in Asbury Automotive Group by 9.1% during the fourth quarter. Northern Trust Corp now owns 239,007 shares of the company's stock valued at $58,086,000 after acquiring an additional 19,923 shares during the period.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock traded up $6.61 during trading hours on Tuesday, hitting $230.55. 85,836 shares of the company traded hands, compared to its average volume of 205,514. The firm's 50-day simple moving average is $239.10 and its two-hundred day simple moving average is $244.04. The firm has a market cap of $4.53 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.49 and a beta of 0.87. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The company has a quick ratio of 0.49, a current ratio of 1.30 and a debt-to-equity ratio of 0.78.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ABG shares. Bank of America raised their target price 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. Citigroup began coverage on Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $236.00 price target on the stock. Wall Street Zen upgraded shares of Asbury Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Cfra set a $225.00 target price on Asbury Automotive Group in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $225.00 to $215.00 and set an "underweight" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Asbury Automotive Group currently has a consensus 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.