NFJ Investment Group LLC Lowers Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

NFJ Investment Group LLC reduced its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 4.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,399 shares of the company’s stock after selling 617 shares during the period. NFJ Investment Group LLC’s holdings in Asbury Automotive Group were worth $3,197,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ABG. Arizona State Retirement System boosted its position in shares of Asbury Automotive Group by 1.0% during the second quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after acquiring an additional 51 shares during the last quarter. Oak Associates Ltd. OH lifted its position in shares of Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock worth $831,000 after buying an additional 51 shares in the last quarter. HighTower Advisors LLC boosted its stake in Asbury Automotive Group by 3.2% during the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock valued at $409,000 after buying an additional 53 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Asbury Automotive Group by 3.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock valued at $440,000 after buying an additional 57 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in Asbury Automotive Group by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock valued at $690,000 after buying an additional 66 shares in the last quarter.

Asbury Automotive Group Trading Up 0.1 %

ABG stock opened at $265.39 on Wednesday. The firm’s fifty day simple moving average is $242.36 and its two-hundred day simple moving average is $237.22. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 15.02 and a beta of 1.18. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a twelve month low of $195.09 and a twelve month high of $277.13.

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 the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.12 earnings per share. As a group, analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ABG shares. Craig Hallum upped their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Bank of America dropped their price objective on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stephens began coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.