The most recent Form 13F filing that the company made with the Securities and Exchange Commission revealed that Royce & Associates LP decreased its holdings of Asbury Automotive Group, Inc. (NYSE: ABG) by 4.4% in the third quarter. The filing was made in October of this year. The disclosure was made to the Securities and Exchange Commission. The fund had a total of 193,095 shares of the company’s stock before the transaction, which resulted in 8,970 of those shares sold during the period above. At the end of the most recent reporting period, Royce & Associates LP held an ownership stake in Asbury Automotive Group that amounted to 0.87% of the company’s total shares and was valued at $29,177,000.
In addition, the interests held in the company by several other hedge funds have been modified due to these changes. Vanguard Group Inc. increased its holdings in Asbury Automotive Group by 5.0 percent over the first three months of 2018. Following the acquisition of 122,138 additional shares during the most recent quarter, Vanguard Group Inc. now has a total holding of 2,577,260 of the company’s shares in its portfolio. The current market value of these holdings is $412 878 000 dollars. The value of State Street Corporation’s holdings in Asbury Automotive Group increased by a total of 2.0% over the first three months of 2018. State Street Corp. now has a total ownership stake equal to 807,809 shares, valued at $129,411,000, after purchasing an additional 16,163 shares during the most recent quarter. This brings the total number of shares owned by State Street Corp. to 807,809. The amount of money that Capital Research Global Investors had invested in Asbury Automotive Group increased by 35.4% over the first three months of 2018. Capital Research Global Investors increased the number of shares it owned in the company during the most recent quarter by purchasing an additional 198,985 shares, bringing the total number of shares it owned to 761,102. The value of the company’s stock is calculated to be $121,929,000 due to this. Simcoe Capital Management LLC increased its holdings in Asbury Automotive Group by 7.6% during the second quarter of the fiscal year. Simcoe Capital Management LLC now directly owns 633,145 shares of the company’s stock, with a value of $107,216,000. This brings the total number of shares owned by the company to 633,145, which was up by 44,516 in the most recent quarter. And finally, during the second quarter, Eminence Capital LP successfully increased the total shares of Asbury Automotive Group in its portfolio by 32.2%. After making additional purchases totaling 103,633 shares during the most recent quarter of the fiscal year, Eminence Capital LP is now the owner of a total of 425,097 shares in the company that have a combined value of $71,986,000.
At the beginning of trading on Thursday, the price of one share of Asbury Automotive Group was established at $184.34. Asbury Automotive Group, Inc. reached a one-year low of $138.88, while the company reached a one-year high of $203.92 during the same period. The quick ratio is 0.85, the current ratio is 1.56, and the debt-to-equity ratio is 1.23. All of these numbers are relative to the overall ratios. All of these figures should be interpreted in light of the overall ratios. The moving average for the company’s price over the past 50 days is $178.64, while the moving average for the past 200 days is $170.38. The company’s price-to-earnings ratio is 5.25, its price-to-earnings-growth ratio is 0.34, and its beta value is 1.14. The market capitalization of the company is currently valued at $4.08 billion.
On October 27, the most recent earnings report for Asbury Automotive Group was made public. This report was published for the company that trades on the NYSE under the symbol ABG. The company’s quarterly earnings per share came in at $9.23, which is $0.04 higher than the $9.19 analysts had anticipated as the average projection. These figures are presented in millions of dollars. The impressive results that Asbury Automotive Group achieved due to their hard work include a return on equity of 34.33% and a net margin of 5.46%. The company’s most recent quarter revenue was $3.87 billion, which was lower than the average expectation of $3.96 billion for the quarter’s revenue. The company reported a profit per share of $7.36, which is 7.36 percent higher than the results for the same quarter in the preceding year. The most recent quarter saw an increase in revenue of 60.7% for Asbury Automotive Group compared to the same quarter of the previous year. According to forecasts provided by analysts in the relevant industry, Asbury Automotive Group, Inc. is anticipated to generate 37.09 cents per share for the current financial year.
Recent events have allowed several financial industry professionals to express their thoughts on ABG stock.
StockNews.com shifted their recommendation on shares of Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report published on Tuesday, November 8. The report was on Asbury Automotive Group. In a research report published on Thursday, October 6, JPMorgan Chase & Co. lowered their price target on Asbury Automotive Group shares from $205.00 to $185.00 and gave the stock a “neutral” rating. In a research note published on Tuesday, Morgan Stanley rated the stock as “underweight” and decreased its price objective on Asbury Automotive Group shares from $135.00 to $128.00. The price objective had previously been set at $135.00.
The Asbury Automotive Group, Inc., along with its subsidiaries and affiliates, is one of the companies selling automobiles retail in the United States. It offers a wide range of automotive goods and services, including, among other things, new and used automobiles, auto maintenance and repair, replacement components, and collision repair.