Intech Investment Management LLC Takes $1.22 Million Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Intech Investment Management LLC acquired a new position in Asbury Automotive Group, Inc. (NYSE:ABG) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,125 shares of the company’s stock, valued at approximately $1,223,000.

Several other hedge funds have also recently bought and sold shares of ABG. Arizona State Retirement System raised its holdings 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 valued at $1,171,000 after buying an additional 51 shares during the last quarter. Oak Associates Ltd. OH increased its position in Asbury Automotive Group by 1.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock valued at $831,000 after acquiring an additional 51 shares during the period. OneDigital Investment Advisors LLC raised its stake 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 acquiring an additional 57 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock worth $2,588,000 after purchasing an additional 60 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Asbury Automotive Group by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock valued at $690,000 after purchasing an additional 66 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Stephens started coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target for the company. Finally, Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Asbury Automotive Group has a consensus rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Price Performance

NYSE ABG opened at $263.72 on Wednesday. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The business’s fifty day moving average is $237.91 and its two-hundred day moving average is $236.18. The stock has a market capitalization of $5.17 billion, a P/E ratio of 14.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last announced its 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 return on equity of 16.51% and a net margin of 2.16%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $8.12 earnings per share. On average, research analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

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.