Janney Montgomery Scott LLC Invests $804,000 in Asbury Automotive Group, Inc. (NYSE:ABG)

Janney Montgomery Scott LLC purchased a new position in Asbury Automotive Group, Inc. (NYSE:ABG) during the third quarter, Holdings Channel reports. The institutional investor purchased 3,369 shares of the company’s stock, valued at approximately $804,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis acquired a new position in shares of Asbury Automotive Group in the 1st quarter worth approximately $896,000. Boston Partners acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at $878,000. Tidal Investments LLC acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at $537,000. Bridges Investment Management Inc. acquired a new position in shares of Asbury Automotive Group during the 2nd quarter valued at $760,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at $1,017,000.

Asbury Automotive Group Stock Performance

Shares of ABG stock opened at $258.18 on Monday. The firm has a market capitalization of $5.06 billion, a PE ratio of 14.61 and a beta of 1.16. The firm has a fifty day simple moving average of $233.22 and a two-hundred day simple moving average of $234.55. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. 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) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 EPS for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm posted $8.12 EPS. Analysts forecast that Asbury Automotive Group, Inc. will post 25.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America dropped their target price 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 target price 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. Stephens assumed 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 target price on the stock. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Seaport Res Ptn downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Asbury Automotive Group 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.