Louisiana State Employees Retirement System purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG – Get Rating) during the third quarter, Holdings Channel reports. The firm purchased 10,600 shares of the company’s stock, valued at approximately $1,602,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Focused Wealth Management Inc acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $27,000. CoreCap Advisors LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $38,000. Islay Capital Management LLC boosted its holdings in Asbury Automotive Group by 26.9% in the 2nd quarter. Islay Capital Management LLC now owns 1,056 shares of the company’s stock valued at $179,000 after purchasing an additional 224 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at about $202,000. Finally, Origin Asset Management LLP purchased a new stake in shares of Asbury Automotive Group in the 2nd quarter valued at approximately $208,000.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ABG. JPMorgan Chase & Co. reduced their price target on shares of Asbury Automotive Group from $205.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, October 6th. Bank of America reduced their price target on shares of Asbury Automotive Group from $385.00 to $368.00 and set a “buy” rating on the stock in a research note on Friday, September 9th. Finally, StockNews.com raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th.
Asbury Automotive Group Price Performance
Shares of ABG opened at $179.25 on Friday. Asbury Automotive Group, Inc. has a fifty-two week low of $138.88 and a fifty-two week high of $203.92. The firm’s 50 day moving average price is $171.47 and its 200 day moving average price is $168.96. The company has a market cap of $3.97 billion, a P/E ratio of 5.10, a PEG ratio of 0.25 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 1.56 and a debt-to-equity ratio of 1.23.
Asbury Automotive Group (NYSE:ABG – Get Rating) last announced its earnings results on Thursday, October 27th. The company reported $9.23 earnings per share for the quarter, topping the consensus estimate of $9.19 by $0.04. Asbury Automotive Group had a net margin of 5.46% and a return on equity of 34.33%. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the firm earned $7.36 EPS. The firm’s revenue for the quarter was up 60.7% on a year-over-year basis. On average, research analysts forecast that Asbury Automotive Group, Inc. will post 37.09 earnings per share for the current fiscal year.
Asbury Automotive Group Company Profile
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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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