Janus Henderson Group PLC Cuts Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Janus Henderson Group PLC reduced its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,352 shares of the company’s stock after selling 1,189 shares during the quarter. Janus Henderson Group PLC owned 0.05% of Asbury Automotive Group worth $2,468,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in Asbury Automotive Group during the 3rd quarter valued at $31,000. Quarry LP acquired a new position in shares of Asbury Automotive Group in the second quarter worth about $38,000. GAMMA Investing LLC boosted its holdings in Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Asbury Automotive Group in the second quarter valued at about $155,000. Finally, Headlands Technologies LLC acquired a new stake in Asbury Automotive Group during the 2nd quarter valued at approximately $190,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Bank of America lowered their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Finally, Craig Hallum upped their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $254.95 on Friday. The company has a 50-day moving average of $245.75 and a two-hundred day moving average of $238.33. Asbury Automotive Group, Inc. has a one year low of $195.09 and a one year high of $277.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 14.43 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $6.58 by ($0.23). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business posted $8.12 earnings per share. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

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.