Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) in the 2nd quarter, Holdings Channel reports. The firm purchased 3,884 shares of the company’s stock, valued at approximately $266,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in Asbury Automotive Group by 53.9% in the 2nd quarter. Bessemer Group Inc. now owns 15,700 shares of the company’s stock valued at $1,076,000 after buying an additional 5,500 shares in the last quarter. Prudential Financial Inc. grew its holdings in Asbury Automotive Group by 8.5% in the 1st quarter. Prudential Financial Inc. now owns 318,777 shares of the company’s stock valued at $21,517,000 after buying an additional 24,880 shares in the last quarter. IndexIQ Advisors LLC grew its holdings in Asbury Automotive Group by 5.7% in the 2nd quarter. IndexIQ Advisors LLC now owns 32,405 shares of the company’s stock valued at $2,221,000 after buying an additional 1,752 shares in the last quarter. Amalgamated Bank purchased a new stake in Asbury Automotive Group in the 2nd quarter valued at $227,000. Finally, TD Asset Management Inc. grew its holdings in Asbury Automotive Group by 1,362.5% in the 2nd quarter. TD Asset Management Inc. now owns 46,800 shares of the company’s stock valued at $3,208,000 after buying an additional 43,600 shares in the last quarter.
In other news, Director Thomas C. Deloach, Jr. sold 15,000 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $74.97, for a total value of $1,124,550.00. Following the transaction, the director now owns 68,652 shares of the company’s stock, valued at approximately $5,146,840.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas C. Deloach, Jr. sold 10,616 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $74.75, for a total value of $793,546.00. Following the completion of the transaction, the director now directly owns 68,652 shares in the company, valued at approximately $5,131,737. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,386 shares of company stock worth $2,050,438. Corporate insiders own 1.90% of the company’s stock.
Several analysts have issued reports on ABG shares. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, May 16th. ValuEngine cut Asbury Automotive Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $63.00 to $71.00 in a report on Tuesday, July 10th. Finally, SunTrust Banks started coverage on Asbury Automotive Group in a report on Friday, August 24th. They issued a “hold” rating and a $78.00 target price for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.83.
Shares of Asbury Automotive Group stock opened at $71.90 on Friday. Asbury Automotive Group, Inc. has a 52 week low of $54.51 and a 52 week high of $77.75. The firm has a market capitalization of $1.49 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.04 and a beta of 1.45. The company has a current ratio of 1.19, a quick ratio of 0.36 and a debt-to-equity ratio of 1.90.
Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, July 24th. The company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.16. Asbury Automotive Group had a return on equity of 37.44% and a net margin of 2.37%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company posted $1.58 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. equities analysts forecast that Asbury Automotive Group, Inc. will post 7.8 earnings per share for the current fiscal year.
About Asbury Automotive Group
Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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