Cerity Partners LLC Has $1.45 Million Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Cerity Partners LLC raised its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 36.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,064 shares of the company’s stock after purchasing an additional 1,628 shares during the period. Cerity Partners LLC’s holdings in Asbury Automotive Group were worth $1,447,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Citigroup Inc. increased its position in shares of Asbury Automotive Group by 23.9% during 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 in the last quarter. Intech Investment Management LLC bought a new position in shares of Asbury Automotive Group in the 3rd quarter worth $1,223,000. PNC Financial Services Group Inc. raised its holdings in Asbury Automotive Group by 36.7% in the third quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock worth $984,000 after purchasing an additional 1,107 shares during the period. Natixis Advisors LLC bought a new position in Asbury Automotive Group during the third quarter worth about $26,573,000. Finally, Empowered Funds LLC boosted its holdings in shares of Asbury Automotive Group by 22.4% in the third quarter. Empowered Funds LLC now owns 5,380 shares of the company’s stock valued at $1,284,000 after buying an additional 985 shares during the period.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock opened at $265.39 on Wednesday. The business has a 50 day moving average of $242.36 and a 200-day moving average of $237.22. The company has a market capitalization of $5.20 billion, a P/E ratio of 15.02 and a beta of 1.18. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. 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 (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the company posted $8.12 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Seaport Res Ptn downgraded Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum raised their target price on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Stephens initiated coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target for the company. Morgan Stanley upgraded shares of 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 report on Wednesday, September 25th. Finally, Bank of America decreased their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and an average target price of $256.20.

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.