Public Sector Pension Investment Board Lowers Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Public Sector Pension Investment Board lessened its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,382 shares of the company’s stock after selling 2,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Asbury Automotive Group were worth $10,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Cynosure Group LLC bought a new position in Asbury Automotive Group in the 3rd quarter valued at $381,000. FMR LLC grew its stake in shares of Asbury Automotive Group by 47.4% during the 3rd quarter. FMR LLC now owns 2,141 shares of the company’s stock worth $511,000 after acquiring an additional 688 shares during the period. Quantbot Technologies LP grew its stake in shares of Asbury Automotive Group by 172.1% during the 3rd quarter. Quantbot Technologies LP now owns 14,191 shares of the company’s stock worth $3,386,000 after acquiring an additional 8,976 shares during the period. Cerity Partners LLC boosted its stake in Asbury Automotive Group by 36.7% in the 3rd quarter. Cerity Partners LLC now owns 6,064 shares of the company’s stock worth $1,447,000 after purchasing an additional 1,628 shares during the period. Finally, Citigroup Inc. boosted its stake in Asbury Automotive Group by 23.9% in the 3rd quarter. Citigroup Inc. now owns 54,917 shares of the company’s stock worth $13,103,000 after purchasing an additional 10,603 shares during the period.

Wall Street Analyst Weigh In

ABG has been the subject of several analyst reports. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Stephens began coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target on the stock. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America reduced their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Trading Down 1.4 %

Asbury Automotive Group stock opened at $260.03 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $240.20 and its two-hundred day simple moving average is $236.78. Asbury Automotive Group, Inc. has a 12 month low of $195.09 and a 12 month high of $277.13. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of 14.72 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.12 EPS. As a group, equities analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share 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.