Citigroup Inc. Purchases 10,603 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Citigroup Inc. boosted its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 23.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,917 shares of the company's stock after buying an additional 10,603 shares during the quarter. Citigroup Inc. owned approximately 0.28% of Asbury Automotive Group worth $13,103,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ABG. Harbor Capital Advisors Inc. bought a new position in shares of Asbury Automotive Group in the 3rd quarter valued at about $31,000. Quarry LP acquired a new position in Asbury Automotive Group during the second quarter valued at approximately $38,000. GAMMA Investing LLC grew its stake in Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock valued at $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Asbury Automotive Group during the 2nd quarter worth approximately $155,000. Finally, Headlands Technologies LLC bought a new stake in shares of Asbury Automotive Group during the 2nd quarter worth approximately $190,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ABG shares. Bank of America lowered their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 11th. Craig Hallum raised 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. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $256.20.

Asbury Automotive Group Stock Performance

ABG stock traded up $0.62 during mid-day trading on Friday, hitting $260.65. 66,048 shares of the company were exchanged, compared to its average volume of 183,006. Asbury Automotive Group, Inc. has a 1-year low of $195.09 and a 1-year high of $277.13. The stock has a market capitalization of $5.11 billion, a PE ratio of 14.72 and a beta of 1.16. The business has a 50 day simple moving average of $240.20 and a 200-day simple moving average of $236.78. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last posted 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). The business had revenue of $4.24 billion during 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 for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $8.12 EPS. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current 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.