Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 0.6% in the third quarter, Holdings Channel.com reports. The fund owned 8,127 shares of the company’s stock after selling 52 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Asbury Automotive Group were worth $1,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. lifted its position in shares of Asbury Automotive Group by 18.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,680 shares of the company’s stock valued at $401,000 after acquiring an additional 259 shares during the period. Atria Investments Inc increased its stake in shares of Asbury Automotive Group by 51.8% during the 3rd quarter. Atria Investments Inc now owns 2,520 shares of the company’s stock worth $601,000 after purchasing an additional 860 shares in the last quarter. Financial Strategies Group Inc. purchased a new position in shares of Asbury Automotive Group during the 3rd quarter worth approximately $450,000. Van ECK Associates Corp grew its stake in Asbury Automotive Group by 6.5% in the 3rd quarter. Van ECK Associates Corp now owns 22,617 shares of the company’s stock worth $5,197,000 after acquiring an additional 1,382 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in Asbury Automotive Group in the 3rd quarter worth approximately $31,000.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $258.18 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 14.61 and a beta of 1.16. The firm’s fifty day simple moving average is $233.22 and its 200 day simple moving average is $234.55. Asbury Automotive Group, Inc. has a twelve month low of $195.09 and a twelve month high of $277.13.

Asbury Automotive Group (NYSE:ABG) last posted its 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). The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.12 EPS. As a group, equities research analysts expect that Asbury Automotive Group, Inc. will post 25.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Craig Hallum lifted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Stephens began coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and a consensus price target of $256.20.

About Asbury Automotive Group

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.