SG Americas Securities LLC reduced its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) by 32.8% in Q1, Holdings Channel reports. The fund held 10,099 shares of the company after selling 4,921 shares during the quarter. SG Americas Securities LLC’s holdings in Asbury Automotive Group were worth $1,618,000 when it last filed with the SEC.
Several other large investors have also recently changed their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in shares of Asbury Automotive Group during the first quarter at a value of $114,000. CM Bidwell & Associates Ltd. increased its position in Asbury Automotive Group shares by 204.7% during the first quarter. CM Bidwell & Associates Ltd. now owns 1,161 shares of the company worth $186,000 after acquiring an additional 780 shares in the last quarter. Malaga Cove Capital LLC purchased a new stake in shares of Asbury Automotive Group during the first quarter at a value of $215,000. Islay Capital Management LLC purchased a new stake in shares of Asbury Automotive Group during the first quarter at a value of $133,000. Finally, Keybank National Association OH increased its position in shares of Asbury Automotive Group by 8.7% during the first quarter. Keybank National Association OH now owns 2,648 shares of the company worth $424,000 after acquiring 211 additional shares in the last quarter.
Analyst upgrades and downgrades
Several brokerages have recently commented on ABG. JPMorgan Chase & Co. cut its price target on shares of Asbury Automotive Group from $215.00 to $195.00 in a Friday, July 15 report. Morgan Stanley cut its price target on Asbury Automotive Group shares from $152.00 to $130.00 and set an “underweight” rating for the company in a report Thursday, July 14. Finally, StockNews.com upgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a Thursday, July 14, report. One research analyst rated the stock with a sell rating, two assigned a hold rating, and two assigned the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $200.00.
Asbury Automotive Group Share Performance
ABG shares opened at $160.58 on Wednesday. The stock has a market capitalization of $3.55 billion, a P/E ratio of 4.99, a P/E/G ratio of 0.26 and a beta of 1.19. The company has a debt ratio of 1.53, a current ratio of 1.14 and a quick ratio of 0.70. The company has a fifty-day moving average price of $172.73 and a two-hundred-day moving average price of $173.26. Asbury Automotive Group, Inc. has a one-year low of $146.43 and a one-year high of $230.96.
Asbury Automotive Group (NYSE:ABG – Get Rating) last reported quarterly results on Thursday, April 28. The company reported EPS of $9.27 for the quarter, beating consensus analyst estimates of $8.92 by $0.35. The company posted revenue of $3.91 billion in the quarter, versus $3.91 billion expected by analysts. Asbury Automotive Group achieved a net margin of 5.86% and a return on equity of 39.72%. The company’s revenue for the quarter increased by 78.4% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $4.68. As a group, stock analysts predict Asbury Automotive Group, Inc. will post EPS of 35.38 for the current year.
About Asbury Automotive Group
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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.
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