Asbury Automotive Group, Inc. (NYSE:ABG) Stock Position Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABGGet Rating) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 2,852 shares of the company’s stock after selling 85 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Asbury Automotive Group were worth $430,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Commonwealth Equity Services LLC raised its holdings in Asbury Automotive Group by 3.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,036 shares of the company’s stock worth $344,000 after buying an additional 62 shares during the period. Bank of Montreal Can boosted its stake in Asbury Automotive Group by 1.2% in the 1st quarter. Bank of Montreal Can now owns 6,583 shares of the company’s stock worth $1,099,000 after purchasing an additional 76 shares during the period. Mackenzie Financial Corp boosted its stake in Asbury Automotive Group by 6.9% in the 1st quarter. Mackenzie Financial Corp now owns 1,321 shares of the company’s stock worth $212,000 after purchasing an additional 85 shares during the period. PNC Financial Services Group Inc. grew its position in Asbury Automotive Group by 8.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,459 shares of the company’s stock worth $233,000 after purchasing an additional 119 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Asbury Automotive Group by 2.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,517 shares of the company’s stock valued at $934,000 after purchasing an additional 121 shares in the last quarter.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $191.84 on Tuesday. Asbury Automotive Group, Inc. has a fifty-two week low of $138.88 and a fifty-two week high of $203.92. The stock’s 50-day moving average is $179.24 and its two-hundred day moving average is $170.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 0.85. The firm has a market cap of $4.25 billion, a P/E ratio of 5.46, a PEG ratio of 0.34 and a beta of 1.14.

Asbury Automotive Group (NYSE:ABGGet Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $9.23 EPS for the quarter, topping analysts’ consensus estimates of $9.19 by $0.04. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.96 billion. Asbury Automotive Group had a return on equity of 34.33% and a net margin of 5.46%. The firm’s revenue was up 60.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.36 earnings per share. Analysts predict that Asbury Automotive Group, Inc. will post 37.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABG has been the topic of a number of research analyst reports. StockNews.com downgraded Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley lowered their target price on Asbury Automotive Group from $135.00 to $128.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $205.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, October 6th.

Asbury Automotive Group Company Profile

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Asbury Automotive Group, Inc operates as a franchised automotive retailer. It operates through the Dealerships and Total Care Auto (TCA) segments. The Dealerships segment offers a range of automotive products and services fulfilling the entire vehicle ownership lifecycle including the sale of new and used vehicles and the provision of vehicle repair and maintenance services, replacement parts, and collision repair services.

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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