Empowered Funds LLC Buys 985 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Empowered Funds LLC increased its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,380 shares of the company’s stock after buying an additional 985 shares during the period. Empowered Funds LLC’s holdings in Asbury Automotive Group were worth $1,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. UniSuper Management Pty Ltd bought a new position in Asbury Automotive Group during the first quarter valued at about $1,017,000. CANADA LIFE ASSURANCE Co boosted its position in Asbury Automotive Group by 5.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,002 shares of the company’s stock valued at $5,422,000 after buying an additional 1,232 shares during the last quarter. Natixis acquired a new stake in Asbury Automotive Group in the first quarter worth about $896,000. CreativeOne Wealth LLC grew its position in shares of Asbury Automotive Group by 21.5% during the 1st quarter. CreativeOne Wealth LLC now owns 1,537 shares of the company’s stock worth $362,000 after buying an additional 272 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in shares of Asbury Automotive Group by 2.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 68,082 shares of the company’s stock valued at $16,052,000 after acquiring an additional 1,651 shares during the last quarter.

Asbury Automotive Group Stock Performance

Shares of NYSE ABG opened at $258.16 on Friday. Asbury Automotive Group, Inc. has a one year low of $195.09 and a one year high of $277.13. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 14.62 and a beta of 1.16. The stock’s fifty day moving average price is $235.27 and its two-hundred day moving average price is $235.25. 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 issued its quarterly earnings results 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). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $8.12 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, equities analysts forecast that Asbury Automotive Group, Inc. will post 25.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ABG shares. JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Bank of America cut their price target on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Craig Hallum upped their price objective on Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Company 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.