HighTower Advisors LLC Boosts Position in Asbury Automotive Group, Inc. (NYSE:ABG)

HighTower Advisors LLC raised its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,720 shares of the company’s stock after acquiring an additional 53 shares during the period. HighTower Advisors LLC’s holdings in Asbury Automotive Group were worth $409,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Asbury Automotive Group during the third quarter valued at $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group during the 2nd quarter valued at about $38,000. GAMMA Investing LLC lifted its holdings 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 buying an additional 101 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Asbury Automotive Group in the second quarter worth about $155,000. Finally, Headlands Technologies LLC acquired a new stake in Asbury Automotive Group during the second quarter worth about $190,000.

Asbury Automotive Group Stock Up 0.8 %

ABG stock opened at $245.77 on Friday. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm has a 50-day simple moving average of $248.51 and a 200-day simple moving average of $238.98. The stock has a market capitalization of $4.81 billion, a P/E ratio of 13.91 and a beta of 1.18.

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 the consensus estimate of $6.58 by ($0.23). The firm had revenue of $4.24 billion for 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%. Asbury Automotive Group’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $8.12 earnings per share. Equities analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABG has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Seaport Res Ptn downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.