Edgestream Partners L.P. Acquires Shares of 10,030 Asbury Automotive Group, Inc. (NYSE:ABG)

Edgestream Partners L.P. acquired a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,030 shares of the company's stock, valued at approximately $2,393,000. Edgestream Partners L.P. owned 0.05% of Asbury Automotive Group as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ABG. Harbor Capital Advisors Inc. acquired a new stake in Asbury Automotive Group in the third quarter worth $31,000. Quarry LP acquired a new position in Asbury Automotive Group in the second quarter valued at about $38,000. GAMMA Investing LLC increased its holdings in shares of Asbury Automotive Group by 100.0% in the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after acquiring an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Asbury Automotive Group during the second quarter worth about $155,000. Finally, Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group during the 2nd quarter valued at about $190,000.

Asbury Automotive Group Stock Performance

Asbury Automotive Group stock traded up $0.37 during trading hours on Tuesday, hitting $265.39. The company had a trading volume of 283,594 shares, compared to its average volume of 157,389. The firm has a 50-day moving average of $242.36 and a 200 day moving average of $237.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41. The firm has a market cap of $5.20 billion, a PE ratio of 15.02 and a beta of 1.18. Asbury Automotive Group, Inc. has a one year low of $195.09 and a one year high of $277.13.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business posted $8.12 earnings per share. The business's revenue for the quarter was up 15.6% on a year-over-year basis. On average, sell-side analysts expect that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Analysts Set New Price Targets

ABG has been the subject of a number of research reports. Seaport Res Ptn cut Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a report on Monday, November 11th. 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 report on Tuesday, November 5th. Craig Hallum raised their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Stephens started coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price objective on the stock. Finally, Bank of America dropped their price target on shares of 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. Six investment 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, Asbury Automotive Group currently has an average rating of "Hold" and an average 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.