JPMorgan Chase & Co. Decreases Position in Asbury Automotive Group, Inc. (NYSE:ABG)

JPMorgan Chase & Co. decreased its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 51.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,727 shares of the company’s stock after selling 162,974 shares during the quarter. JPMorgan Chase & Co. owned 0.80% of Asbury Automotive Group worth $37,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SkyView Investment Advisors LLC increased its holdings in Asbury Automotive Group by 2.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company’s stock worth $506,000 after buying an additional 50 shares in the last quarter. Barclays PLC grew its stake in shares of Asbury Automotive Group by 94.9% in the third quarter. Barclays PLC now owns 38,644 shares of the company’s stock worth $9,220,000 after acquiring an additional 18,821 shares during the period. MML Investors Services LLC purchased a new position in shares of Asbury Automotive Group during the third quarter valued at approximately $222,000. Castleark Management LLC bought a new position in Asbury Automotive Group during the third quarter valued at approximately $2,310,000. Finally, State Street Corp boosted its holdings in Asbury Automotive Group by 0.5% in the third quarter. State Street Corp now owns 801,391 shares of the company’s stock worth $191,204,000 after purchasing an additional 3,672 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of NYSE ABG opened at $236.52 on Tuesday. The stock has a market cap of $4.63 billion, a PE ratio of 13.39 and a beta of 1.19. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The firm has a fifty day moving average price of $251.63 and a 200-day moving average price of $239.78. 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 issued its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The business 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 company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.12 EPS. Equities analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Bank of America dropped 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. Craig Hallum upped their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Stephens began coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.