SG Americas Securities LLC Takes Position in Asbury Automotive Group, Inc. (NYSE:ABG)

SG Americas Securities LLC acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,032 shares of the company’s stock, valued at approximately $1,111,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State of New Jersey Common Pension Fund D grew its position in Asbury Automotive Group by 3.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 8,381 shares of the company’s stock valued at $2,037,000 after acquiring an additional 254 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Asbury Automotive Group by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 94,995 shares of the company’s stock valued at $23,087,000 after purchasing an additional 788 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Asbury Automotive Group by 54.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,979 shares of the company’s stock worth $481,000 after purchasing an additional 696 shares during the period. Venturi Wealth Management LLC increased its position in Asbury Automotive Group by 28.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,408 shares of the company’s stock worth $342,000 after purchasing an additional 315 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Asbury Automotive Group by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 66,645 shares of the company’s stock worth $16,197,000 after purchasing an additional 389 shares in the last quarter.

Asbury Automotive Group Stock Performance

ABG stock opened at $234.68 on Wednesday. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.55 and a beta of 0.96. The firm has a 50 day moving average of $227.77 and a two-hundred day moving average of $245.67. The company has a quick ratio of 0.55, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $6.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 2.42%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.21 earnings per share. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ABG shares. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Bank of America raised their target price on shares of Asbury Automotive Group from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Wall Street Zen raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Citigroup started coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 target price for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $263.50.

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.