Franklin Resources Inc. Sells 804 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Franklin Resources Inc. trimmed its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 17.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,892 shares of the company’s stock after selling 804 shares during the quarter. Franklin Resources Inc.’s holdings in Asbury Automotive Group were worth $878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ABG. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group during the third quarter worth $31,000. Quarry LP acquired a new stake in shares of Asbury Automotive Group during the 2nd quarter valued at about $38,000. GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after purchasing an additional 101 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Asbury Automotive Group in the second quarter valued at $155,000. Finally, Headlands Technologies LLC acquired a new position in Asbury Automotive Group during the second quarter worth $190,000.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Bank of America dropped their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Stephens started 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 on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Stock Down 1.9 %

NYSE:ABG opened at $244.53 on Monday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 13.84 and a beta of 1.18. 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 stock has a 50-day moving average price of $250.02 and a two-hundred day moving average price of $239.46. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share 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 the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.12 EPS. As a group, equities analysts expect that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current 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.