Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 3.2% in the third quarter, HoldingsChannel reports. The firm owned 1,628 shares of the company’s stock after selling 53 shares during the period. Commerce Bank’s holdings in Asbury Automotive Group were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ABG. Harbor Capital Advisors Inc. acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at about $31,000. Quarry LP purchased a new stake in Asbury Automotive Group in the 2nd quarter worth approximately $38,000. GAMMA Investing LLC grew its stake in shares of Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock worth $67,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Asbury Automotive Group during the 2nd quarter valued at approximately $155,000. Finally, Headlands Technologies LLC acquired a new position in shares of Asbury Automotive Group in the 2nd quarter valued at $190,000.

Analysts Set New Price Targets

Several analysts recently commented on ABG shares. Stephens assumed coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price target on the stock. 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 Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price objective on 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, Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG opened at $263.72 on Wednesday. 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, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The firm has a market capitalization of $5.17 billion, a PE ratio of 14.92 and a beta of 1.16. The business’s 50 day moving average price is $237.91 and its 200-day moving average price is $236.18.

Asbury Automotive Group (NYSE:ABG) last announced its 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 business had revenue of $4.24 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm earned $8.12 EPS. As a group, equities research analysts expect that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

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.