Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,180,640 shares of the company’s stock after selling 30,376 shares during the period. Vanguard Group Inc. owned 11.09% of Asbury Automotive Group worth $481,573,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake in Asbury Automotive Group by 38.9% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,827 shares of the company’s stock worth $624,000 after buying an additional 791 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Asbury Automotive Group in the 1st quarter valued at about $592,000. US Bancorp DE lifted its stake in shares of Asbury Automotive Group by 1.7% in the 1st quarter. US Bancorp DE now owns 3,540 shares of the company’s stock valued at $782,000 after purchasing an additional 58 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Asbury Automotive Group by 10.9% in the 1st quarter. Natixis Advisors LLC now owns 136,793 shares of the company’s stock valued at $30,209,000 after purchasing an additional 13,424 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of Asbury Automotive Group by 7.7% in the 1st quarter. Bayforest Capital Ltd now owns 1,155 shares of the company’s stock valued at $255,000 after purchasing an additional 83 shares in the last quarter.

Asbury Automotive Group Trading Down 0.4%

NYSE:ABG opened at $242.12 on Friday. Asbury Automotive Group, Inc. has a 12-month low of $201.68 and a 12-month high of $312.56. The firm has a market capitalization of $4.76 billion, a P/E ratio of 8.84, a P/E/G ratio of 1.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.30 and a quick ratio of 0.49. The business has a 50 day simple moving average of $239.36 and a 200 day simple moving average of $242.72.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, July 29th. The company reported $7.43 earnings per share (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 business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the firm posted $6.40 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts predict that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABG shares. Cfra set a $225.00 price objective on Asbury Automotive Group in a research note on Tuesday, July 29th. Stephens raised Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $225.00 to $277.00 in a research note on Wednesday. Citigroup started coverage on Asbury Automotive Group in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $236.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Asbury Automotive Group from $225.00 to $215.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 5th. Finally, Bank of America lifted their price objective on Asbury Automotive Group from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $254.00.

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.