Raymond James Financial Services Advisors Inc. purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,357 shares of the company’s stock, valued at approximately $326,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC bought a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $778,000. MQS Management LLC bought a new position in shares of Asbury Automotive Group during the 1st quarter worth approximately $256,000. Y Intercept Hong Kong Ltd bought a new position in shares of Asbury Automotive Group in the 1st quarter worth $500,000. Louisiana State Employees Retirement System lifted its holdings in shares of Asbury Automotive Group by 9.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the company’s stock worth $2,717,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Archer Investment Corp bought a new position in shares of Asbury Automotive Group in the 1st quarter worth $83,000.
Analyst Ratings Changes
ABG has been the topic of several recent analyst reports. StockNews.com initiated coverage on Asbury Automotive Group in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Stephens raised their price objective on Asbury Automotive Group from $275.00 to $300.00 in a research note on Wednesday, July 19th. JPMorgan Chase & Co. raised Asbury Automotive Group from a “neutral” rating to an “overweight” rating and set a $245.00 target price for the company in a research report on Tuesday. Finally, Morgan Stanley raised their target price on Asbury Automotive Group from $128.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday, August 9th.
Asbury Automotive Group Trading Up 4.2 %
Shares of ABG opened at $210.16 on Friday. The business has a 50-day moving average of $215.70 and a 200 day moving average of $218.36. Asbury Automotive Group, Inc. has a fifty-two week low of $150.73 and a fifty-two week high of $256.39. The firm has a market cap of $4.33 billion, a P/E ratio of 5.02 and a beta of 1.14. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.77 and a current ratio of 2.07.
About Asbury Automotive Group
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.
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