PNC Financial Services Group Inc. Acquires 1,107 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

PNC Financial Services Group Inc. grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 36.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,126 shares of the company’s stock after buying an additional 1,107 shares during the period. PNC Financial Services Group Inc.’s holdings in Asbury Automotive Group were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in Asbury Automotive Group by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 5,141 shares of the company’s stock valued at $1,171,000 after acquiring an additional 51 shares during the last quarter. Oak Associates Ltd. OH increased its holdings in shares of Asbury Automotive Group by 1.4% in the second quarter. Oak Associates Ltd. OH now owns 3,648 shares of the company’s stock worth $831,000 after purchasing an additional 51 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Asbury Automotive Group by 3.2% in the third quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock worth $440,000 after purchasing an additional 57 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Asbury Automotive Group by 0.5% in the first quarter. Janus Henderson Group PLC now owns 10,980 shares of the company’s stock worth $2,588,000 after buying an additional 60 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in Asbury Automotive Group by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 3,030 shares of the company’s stock valued at $690,000 after buying an additional 66 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stephens began coverage on Asbury Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective on the stock. Craig Hallum boosted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America lowered their price objective on shares of 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. JPMorgan Chase & Co. reduced 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 report on Tuesday, November 5th. Finally, Morgan Stanley raised 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 report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $259.88 on Thursday. Asbury Automotive Group, Inc. has a 12-month low of $195.09 and a 12-month high of $277.13. 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 50-day moving average price of $238.74 and a 200-day moving average price of $236.45. The firm has a market capitalization of $5.09 billion, a PE ratio of 14.92 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) 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). The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $8.12 EPS. As a group, equities research analysts forecast that Asbury Automotive Group, Inc. will post 25.17 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.