Asbury Automotive Group, Inc. (NYSE:ABG) Holdings Boosted by Covestor Ltd

Covestor Ltd grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,340 shares of the company’s stock after purchasing an additional 84 shares during the period. Asbury Automotive Group makes up 0.4% of Covestor Ltd’s portfolio, making the stock its 13th biggest position. Covestor Ltd’s holdings in Asbury Automotive Group were worth $563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC grew its stake in Asbury Automotive Group by 47.5% during the 1st quarter. HighTower Advisors LLC now owns 3,671 shares of the company’s stock valued at $593,000 after acquiring an additional 1,182 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Asbury Automotive Group by 8.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,459 shares of the company’s stock valued at $233,000 after purchasing an additional 119 shares in the last quarter. Bank of Montreal Can increased 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 valued at $1,099,000 after buying an additional 76 shares during the period. MetLife Investment Management LLC lifted its position in Asbury Automotive Group by 56.3% in the 1st quarter. MetLife Investment Management LLC now owns 12,440 shares of the company’s stock worth $1,993,000 after buying an additional 4,480 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Asbury Automotive Group by 7.3% during the 1st quarter. Rhumbline Advisers now owns 63,891 shares of the company’s stock valued at $10,235,000 after buying an additional 4,367 shares during the period.

Asbury Automotive Group Stock Down 2.2 %

NYSE:ABG traded down $4.63 during trading hours on Tuesday, reaching $207.56. The company’s stock had a trading volume of 15,980 shares, compared to its average volume of 204,149. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.07 and a quick ratio of 0.82. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 5.07 and a beta of 1.14. Asbury Automotive Group, Inc. has a one year low of $157.47 and a one year high of $256.39. The business’s 50-day moving average is $211.54 and its 200-day moving average is $219.43.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, October 24th. The company reported $8.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.44 by ($0.32). Asbury Automotive Group had a return on equity of 24.10% and a net margin of 6.13%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.72 billion. Equities research analysts predict that Asbury Automotive Group, Inc. will post 33.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Asbury Automotive Group from a “neutral” rating to an “overweight” rating and set a $245.00 price target on the stock in a research note on Tuesday, October 31st. Morgan Stanley raised their price target on Asbury Automotive Group from $128.00 to $165.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. Finally, StockNews.com began coverage on Asbury Automotive Group in a report on Thursday, October 5th. They set a “hold” rating for the company.

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.