Franklin Resources Inc. Sells 804 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Franklin Resources Inc. lessened its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 17.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,892 shares of the company’s stock after selling 804 shares during the period. Franklin Resources Inc.’s holdings in Asbury Automotive Group were worth $878,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in Asbury Automotive Group in the 3rd quarter valued at about $31,000. Quarry LP bought a new position in Asbury Automotive Group in the 2nd quarter valued at about $38,000. GAMMA Investing LLC lifted its position in Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock worth $94,000 after acquiring an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Asbury Automotive Group during the 2nd quarter worth approximately $155,000. Finally, Headlands Technologies LLC bought a new stake in shares of Asbury Automotive Group in the second quarter valued at about $190,000.

Asbury Automotive Group Stock Down 1.9 %

NYSE:ABG opened at $244.53 on Monday. The firm’s 50 day simple moving average is $250.02 and its 200 day simple moving average is $239.46. The company has a market cap of $4.79 billion, a PE ratio of 13.84 and a beta of 1.18. Asbury Automotive Group, Inc. has a one year low of $195.09 and a one year 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.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion during 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 for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.12 earnings per share. On average, research analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABG has been the subject of a number of recent research reports. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $190.00 to $240.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective 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 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. Seaport Res Ptn cut Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Stephens assumed coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 target price for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.