Axa Buys 8,900 Shares of Asbury Automotive Group, Inc. (ABG)
Axa raised its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 89.9% during the third quarter, HoldingsChannel.com reports. The firm owned 18,800 shares of the company’s stock after buying an additional 8,900 shares during the quarter. Axa’s holdings in Asbury Automotive Group were worth $1,293,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ABG. Stevens Capital Management LP purchased a new stake in Asbury Automotive Group during the second quarter valued at approximately $201,000. Sei Investments Co. raised its position in Asbury Automotive Group by 1,869.7% during the second quarter. Sei Investments Co. now owns 2,994 shares of the company’s stock valued at $206,000 after purchasing an additional 2,842 shares during the period. Amalgamated Bank purchased a new stake in Asbury Automotive Group during the second quarter valued at approximately $227,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Asbury Automotive Group during the second quarter valued at approximately $266,000. Finally, First Hawaiian Bank purchased a new stake in Asbury Automotive Group during the third quarter valued at approximately $273,000.
A number of equities research analysts have issued reports on ABG shares. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Tuesday, September 25th. Buckingham Research upped their price objective on Asbury Automotive Group from $70.00 to $74.00 and gave the company a “hold” rating in a research report on Wednesday, October 24th. SunTrust Banks decreased their price objective on Asbury Automotive Group to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, October 24th. ValuEngine upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, Morgan Stanley upped their price objective on Asbury Automotive Group from $71.00 to $81.00 and gave the company a “sell” rating in a research report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.40.
Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 23rd. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.33. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Asbury Automotive Group had a return on equity of 37.83% and a net margin of 2.52%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. As a group, equities research analysts predict that Asbury Automotive Group, Inc. will post 8.28 earnings per share for the current year.
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Asbury Automotive Group Profile
Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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