Fmr LLC Purchases 688 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Fmr LLC lifted its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 47.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,141 shares of the company’s stock after buying an additional 688 shares during the quarter. Fmr LLC’s holdings in Asbury Automotive Group were worth $511,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ABG. Harbor Capital Advisors Inc. bought a new position in shares of Asbury Automotive Group in the 3rd quarter worth about $31,000. Quarry LP bought a new stake in Asbury Automotive Group in the second quarter worth approximately $38,000. GAMMA Investing LLC lifted its stake in Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after buying an additional 101 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Asbury Automotive Group in the second quarter valued at approximately $155,000. Finally, Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter worth approximately $190,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ABG shares. Craig Hallum lifted their price objective on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Bank of America reduced their target price on 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. Finally, Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Stock Down 3.5 %

Shares of NYSE ABG opened at $243.51 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The stock has a market capitalization of $4.77 billion, a P/E ratio of 13.78 and a beta of 1.18. The company has a 50-day moving average price of $247.22 and a 200-day moving average price of $238.89.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $8.12 EPS. On average, equities research analysts forecast that Asbury Automotive Group, Inc. will post 25.17 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.