Royce & Associates LP Trims Stake in Asbury Automotive Group, Inc. (NYSE:ABG)

Royce & Associates LP decreased its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 38.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,747 shares of the company's stock after selling 38,476 shares during the period. Royce & Associates LP owned about 0.32% of Asbury Automotive Group worth $14,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group in the 3rd quarter valued at approximately $31,000. Quarry LP bought a new stake in Asbury Automotive Group in the 2nd quarter valued at about $38,000. GAMMA Investing LLC raised its position in shares of Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company's stock worth $67,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Asbury Automotive Group during the second quarter worth about $155,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Asbury Automotive Group in the second quarter worth approximately $190,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ABG. Stephens began coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $216.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Craig Hallum upped their price objective 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. Bank of America decreased their target price on Asbury Automotive Group from $310.00 to $305.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Finally, StockNews.com raised Asbury Automotive Group from a "sell" rating to a "hold" rating in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $256.20.

Asbury Automotive Group Stock Performance

Shares of NYSE:ABG traded down $3.44 during trading on Friday, hitting $258.18. 112,315 shares of the company were exchanged, compared to its average volume of 224,278. The company has a market cap of $5.06 billion, a PE ratio of 14.61 and a beta of 1.16. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13. 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 stock has a 50 day moving average of $233.22 and a 200 day moving average of $234.55.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $6.35 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 company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the business earned $8.12 EPS. The firm's revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts predict that Asbury Automotive Group, Inc. will post 25.31 EPS for the current year.

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.