Geode Capital Management LLC Cuts Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Geode Capital Management LLC cut its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 466,610 shares of the company's stock after selling 6,131 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Asbury Automotive Group worth $111,349,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in Asbury Automotive Group during the 3rd quarter worth approximately $804,000. Bridges Investment Management Inc. purchased a new stake in shares of Asbury Automotive Group during the second quarter valued at approximately $760,000. Intech Investment Management LLC bought a new position in shares of Asbury Automotive Group in the third quarter worth approximately $1,223,000. International Assets Investment Management LLC purchased a new position in shares of Asbury Automotive Group in the third quarter worth $154,270,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Asbury Automotive Group in the third quarter worth $2,393,000.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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. 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 report on Wednesday, September 25th. StockNews.com upgraded Asbury Automotive Group from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Stephens assumed coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They set an "equal weight" rating and a $216.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $256.20.

Asbury Automotive Group Stock Up 0.1 %

Shares of NYSE:ABG traded up $0.35 during trading on Thursday, hitting $243.86. The stock had a trading volume of 153,815 shares, compared to its average volume of 182,046. The company has a market capitalization of $4.78 billion, a PE ratio of 13.80 and a beta of 1.18. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm's fifty day moving average is $247.62 and its 200 day moving average is $238.92. Asbury Automotive Group, Inc. has a 12 month low of $195.09 and a 12 month high of $277.13.

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). 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 during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company posted $8.12 EPS. Asbury Automotive Group's revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts anticipate 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.