Janney Montgomery Scott LLC Acquires Shares of 3,369 Asbury Automotive Group, Inc. (NYSE:ABG)

Janney Montgomery Scott LLC purchased a new stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,369 shares of the company's stock, valued at approximately $804,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Asbury Automotive Group in the second quarter valued at $38,000. GAMMA Investing LLC increased its holdings in Asbury Automotive Group by 100.0% during the 2nd quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Asbury Automotive Group in the second quarter worth approximately $155,000. Headlands Technologies LLC bought a new position in shares of Asbury Automotive Group in the second quarter valued at approximately $190,000. Finally, Innealta Capital LLC purchased a new position in shares of Asbury Automotive Group during the second quarter valued at approximately $194,000.

Analyst Ratings Changes

A number of brokerages recently commented on ABG. StockNews.com upgraded Asbury Automotive Group from a "sell" rating to a "hold" rating in a report on Thursday, October 31st. Morgan Stanley upgraded shares of Asbury Automotive Group from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $190.00 to $240.00 in a research report on Wednesday, September 25th. Bank of America lowered their price objective 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. Craig Hallum boosted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. 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 report on Tuesday, November 5th. Six research 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 stock presently has an average rating of "Hold" and a consensus price target of $256.20.

Asbury Automotive Group Price Performance

Shares of ABG traded down $2.28 during mid-day trading on Monday, reaching $255.90. The stock had a trading volume of 87,863 shares, compared to its average volume of 184,285. Asbury Automotive Group, Inc. has a 12 month low of $195.09 and a 12 month high of $277.13. 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 firm has a market cap of $5.01 billion, a price-to-earnings ratio of 14.61 and a beta of 1.16. The business has a fifty day moving average of $233.22 and a 200 day moving average of $234.55.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the business earned $8.12 EPS. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. Equities analysts predict that Asbury Automotive Group, Inc. will post 25.31 EPS 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.