Hsbc Holdings PLC Has $2.57 Million Stock Holdings in Asbury Automotive Group, Inc. $ABG

Hsbc Holdings PLC boosted its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 116.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,857 shares of the company’s stock after purchasing an additional 5,840 shares during the period. Hsbc Holdings PLC owned about 0.06% of Asbury Automotive Group worth $2,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Asbury Automotive Group during the first quarter worth $49,000. Northwestern Mutual Wealth Management Co. grew its position in Asbury Automotive Group by 64.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company’s stock worth $49,000 after acquiring an additional 81 shares during the last quarter. eCIO Inc. acquired a new position in Asbury Automotive Group in the 1st quarter worth about $56,000. Koss Olinger Consulting LLC bought a new position in Asbury Automotive Group in the first quarter valued at about $201,000. Finally, CWM LLC boosted its stake in shares of Asbury Automotive Group by 7.6% during the second quarter. CWM LLC now owns 923 shares of the company’s stock valued at $220,000 after purchasing an additional 65 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Asbury Automotive Group from $275.00 to $251.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the company an “underweight” rating in a research report on Wednesday, November 5th. Bank of America cut their price target on shares of Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Citigroup restated a “neutral” rating on shares of Asbury Automotive Group in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Asbury Automotive Group in a research report on Monday, December 1st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Asbury Automotive Group currently has an average rating of “Hold” and an average target price of $250.57.

Asbury Automotive Group Trading Up 2.1%

NYSE:ABG opened at $238.89 on Friday. The firm’s fifty day moving average is $235.48 and its 200-day moving average is $238.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.99. Asbury Automotive Group, Inc. has a 52 week low of $201.68 and a 52 week high of $312.56. The firm has a market cap of $4.64 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.51 and a beta of 0.88.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, October 28th. The company reported $7.17 earnings per share for the quarter, topping analysts’ consensus estimates of $6.80 by $0.37. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.84 billion. Asbury Automotive Group had a net margin of 3.15% and a return on equity of 15.26%. Asbury Automotive Group’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.35 earnings per share. Equities analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current year.

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.