Argent Capital Management LLC Purchases 2,164 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Argent Capital Management LLC lifted its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 16.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,451 shares of the company’s stock after purchasing an additional 2,164 shares during the period. Argent Capital Management LLC’s holdings in Asbury Automotive Group were worth $3,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in Asbury Automotive Group during the 3rd quarter worth $31,000. Quarry LP bought a new stake in Asbury Automotive Group during the 2nd quarter valued at approximately $38,000. GAMMA Investing LLC grew its holdings in 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 last quarter. Seven Eight Capital LP acquired a new position in shares of Asbury Automotive Group during the second quarter worth approximately $212,000. Finally, MML Investors Services LLC bought a new stake in shares of Asbury Automotive Group in the third quarter valued at approximately $222,000.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America cut their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Craig Hallum increased their target price on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. cut 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. Finally, StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Trading Up 0.4 %

Shares of ABG opened at $249.64 on Thursday. The stock has a fifty day moving average price of $252.50 and a two-hundred day moving average price of $240.51. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 14.13 and a beta of 1.19.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 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 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 business’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.12 EPS. Analysts predict that Asbury Automotive Group, Inc. will post 25.17 EPS 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.