Asbury Automotive Group, Inc. $ABG Stake Increased by Eminence Capital LP

Eminence Capital LP raised its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 36.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,002,160 shares of the company’s stock after buying an additional 265,539 shares during the quarter. Asbury Automotive Group comprises 2.9% of Eminence Capital LP’s portfolio, making the stock its 6th largest holding. Eminence Capital LP owned approximately 0.05% of Asbury Automotive Group worth $239,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of Asbury Automotive Group by 56.1% in the first quarter. LPL Financial LLC now owns 7,242 shares of the company’s stock valued at $1,599,000 after acquiring an additional 2,604 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Asbury Automotive Group by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 213,996 shares of the company’s stock worth $47,259,000 after purchasing an additional 2,230 shares in the last quarter. Nuveen LLC bought a new position in Asbury Automotive Group in the 1st quarter valued at $17,922,000. Russell Investments Group Ltd. grew its position in shares of Asbury Automotive Group by 51.5% during the 1st quarter. Russell Investments Group Ltd. now owns 10,027 shares of the company’s stock valued at $2,214,000 after purchasing an additional 3,410 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Asbury Automotive Group in the first quarter worth $49,000.

Asbury Automotive Group Stock Performance

Shares of NYSE ABG opened at $243.56 on Friday. The stock’s 50-day moving average is $234.94 and its 200 day moving average is $239.33. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 1.57 and a beta of 0.88. Asbury Automotive Group, Inc. has a 1-year low of $201.68 and a 1-year high of $312.56. The company has a current ratio of 0.99, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $7.17 EPS for the quarter, beating analysts’ consensus estimates of $6.80 by $0.37. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Asbury Automotive Group had a net margin of 3.15% and a return on equity of 15.26%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $6.35 earnings per share. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Zacks Research lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Citigroup reaffirmed a “neutral” rating on shares of Asbury Automotive Group in a report on Thursday, September 25th. Barclays cut their price objective on Asbury Automotive Group from $275.00 to $251.00 and set an “equal weight” rating for the company in a report on Thursday, December 4th. Bank of America lowered their target price on shares of Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Asbury Automotive Group in a research note on Monday. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and an average price target of $250.57.

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.