State Street Corp Grows Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

State Street Corp grew its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 801,391 shares of the company's stock after acquiring an additional 3,672 shares during the quarter. State Street Corp owned about 4.09% of Asbury Automotive Group worth $191,204,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABG. Harbor Capital Advisors Inc. purchased a new stake in Asbury Automotive Group in the 3rd quarter worth approximately $31,000. Quarry LP purchased a new stake in shares of Asbury Automotive Group in the second quarter valued at $38,000. GAMMA Investing LLC grew its position in shares of Asbury Automotive Group by 34.6% in the third quarter. GAMMA Investing LLC now owns 393 shares of the company's stock valued at $94,000 after purchasing an additional 101 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Asbury Automotive Group in the second quarter valued at $155,000. Finally, Headlands Technologies LLC acquired a new stake in Asbury Automotive Group in the 2nd quarter worth about $190,000.

Asbury Automotive Group Stock Down 0.5 %

Asbury Automotive Group stock traded down $1.30 during trading on Friday, reaching $253.65. 97,611 shares of the company's stock were exchanged, compared to its average volume of 182,320. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 14.35 and a beta of 1.18. 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 company's 50-day moving average is $246.19 and its two-hundred day moving average is $238.49.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 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 company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm earned $8.12 EPS. The company's revenue for the quarter was up 15.6% compared to the same quarter last year. On average, analysts predict that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABG shares. 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. StockNews.com upgraded shares of Asbury Automotive Group from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Morgan Stanley raised shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America reduced their target price on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. cut 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock 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.