Janney Montgomery Scott LLC Makes New Investment in Asbury Automotive Group, Inc. (NYSE:ABG)

Janney Montgomery Scott LLC acquired a new position in Asbury Automotive Group, Inc. (NYSE:ABG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,369 shares of the company’s stock, valued at approximately $804,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Arizona State Retirement System raised its stake in Asbury Automotive Group by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock worth $1,171,000 after purchasing an additional 51 shares in the last quarter. Oak Associates Ltd. OH raised its stake in Asbury Automotive Group by 1.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock worth $831,000 after purchasing an additional 51 shares in the last quarter. Janus Henderson Group PLC raised its stake in Asbury Automotive Group by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock worth $2,588,000 after purchasing an additional 60 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Asbury Automotive Group by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock worth $690,000 after purchasing an additional 66 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Asbury Automotive Group by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,804 shares of the company’s stock worth $2,690,000 after purchasing an additional 99 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens began coverage on shares of Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective for the company. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price 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, Bank of America decreased their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group presently has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Trading Down 1.3 %

Shares of Asbury Automotive Group stock opened at $258.18 on Monday. The firm has a market capitalization of $5.06 billion, a PE ratio of 14.61 and a beta of 1.16. 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 firm’s 50 day moving average is $233.22 and its 200 day moving average is $234.55. 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 (EPS) for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion for 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 company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $8.12 earnings per share. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 25.31 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.