Argent Capital Management LLC Increases Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Argent Capital Management LLC raised its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,451 shares of the company’s stock after buying an additional 2,164 shares during the quarter. Argent Capital Management LLC owned approximately 0.08% of Asbury Automotive Group worth $3,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SkyView Investment Advisors LLC boosted its position in shares of Asbury Automotive Group by 2.4% in the third quarter. SkyView Investment Advisors LLC now owns 2,119 shares of the company’s stock worth $506,000 after buying an additional 50 shares during the period. HighTower Advisors LLC lifted its stake in Asbury Automotive Group by 3.2% during the third quarter. HighTower Advisors LLC now owns 1,720 shares of the company’s stock worth $409,000 after purchasing an additional 53 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Asbury Automotive Group by 3.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock valued at $440,000 after buying an additional 57 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Asbury Automotive Group by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,804 shares of the company’s stock valued at $2,690,000 after purchasing an additional 99 shares during the last quarter. Finally, US Bancorp DE increased its position in Asbury Automotive Group by 2.6% in the third quarter. US Bancorp DE now owns 3,851 shares of the company’s stock worth $919,000 after buying an additional 99 shares during the period.

Asbury Automotive Group Price Performance

Shares of ABG opened at $249.64 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. The firm has a market cap of $4.89 billion, a PE ratio of 14.13 and a beta of 1.19. Asbury Automotive Group, Inc. has a twelve month low of $195.09 and a twelve month high of $277.13. The firm’s 50 day moving average price is $252.50 and its 200 day moving average price is $240.51.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data 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). Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $8.12 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 25.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ABG shares. Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum raised their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Bank of America reduced 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 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. According to MarketBeat.com, Asbury Automotive Group 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.