TD Asset Management Inc Invests $6.04 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

TD Asset Management Inc bought a new stake in Asbury Automotive Group, Inc. (NYSE:ABG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,335 shares of the company’s stock, valued at approximately $6,037,000. TD Asset Management Inc owned about 0.14% of Asbury Automotive Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Madison Asset Management LLC boosted its stake in Asbury Automotive Group by 10.1% during the 1st quarter. Madison Asset Management LLC now owns 373,320 shares of the company’s stock worth $82,444,000 after purchasing an additional 34,160 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Asbury Automotive Group in the first quarter valued at $756,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Asbury Automotive Group in the first quarter valued at about $976,000. Choreo LLC boosted its stake in shares of Asbury Automotive Group by 1.7% during the first quarter. Choreo LLC now owns 3,094 shares of the company’s stock worth $683,000 after buying an additional 53 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of Asbury Automotive Group by 84.5% during the first quarter. Allianz Asset Management GmbH now owns 1,832 shares of the company’s stock worth $405,000 after buying an additional 839 shares during the period.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered Asbury Automotive Group from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $235.00 to $225.00 in a report on Thursday, July 17th. Bank of America upped their price target on Asbury Automotive Group from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Citigroup initiated coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price objective on the stock. Finally, Cfra set a $225.00 price objective on shares of Asbury Automotive Group in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $254.43.

Asbury Automotive Group Stock Up 0.6%

Asbury Automotive Group stock opened at $223.41 on Friday. The stock’s 50 day moving average price is $239.12 and its 200 day moving average price is $244.22. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The company has a market cap of $4.39 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.30 and a quick ratio of 0.55.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 29th. The company reported $7.43 EPS for the quarter, beating analysts’ consensus estimates of $6.82 by $0.61. Asbury Automotive Group had a return on equity of 15.41% and a net margin of 3.13%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the company earned $6.40 earnings per share. Asbury Automotive Group’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Asbury Automotive Group 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.