Fmr LLC Has $511,000 Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Fmr LLC grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 47.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,141 shares of the company’s stock after acquiring an additional 688 shares during the quarter. Fmr LLC’s holdings in Asbury Automotive Group were worth $511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ABG. Assenagon Asset Management S.A. grew its holdings in shares of Asbury Automotive Group by 366.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares in the last quarter. Eminence Capital LP increased its holdings in Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after buying an additional 146,246 shares during the period. Natixis Advisors LLC acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at approximately $26,573,000. Dimensional Fund Advisors LP lifted its holdings in shares of Asbury Automotive Group by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after acquiring an additional 69,975 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Asbury Automotive Group in the third quarter valued at approximately $154,270,000.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $243.51 on Thursday. The stock’s 50-day moving average is $247.22 and its 200-day moving average is $238.89. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a market cap of $4.77 billion, a P/E ratio of 13.78 and a beta of 1.18.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on ABG shares. Morgan Stanley raised 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 report on Wednesday, September 25th. Stephens initiated coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective on the stock. Craig Hallum boosted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America reduced their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and an average target price of $256.20.

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.