Argent Capital Management LLC grew its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 30.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,950 shares of the company’s stock after purchasing an additional 915 shares during the quarter. Argent Capital Management LLC’s holdings in Asbury Automotive Group were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at $27,000. Vantage Consulting Group Inc acquired a new stake in Asbury Automotive Group in the fourth quarter valued at approximately $34,000. Acadian Asset Management LLC increased its holdings in shares of Asbury Automotive Group by 554.8% during the first quarter. Acadian Asset Management LLC now owns 478 shares of the company’s stock valued at $94,000 after acquiring an additional 405 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Asbury Automotive Group during the fourth quarter worth approximately $72,000. Finally, Islay Capital Management LLC bought a new position in shares of Asbury Automotive Group in the 1st quarter worth $136,000.
ABG has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $229.00 price objective on the stock in a research note on Wednesday, April 28th. Morgan Stanley boosted their price objective on Asbury Automotive Group from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday, April 29th. Craig Hallum raised their target price on Asbury Automotive Group from $180.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Truist Securities upped their price target on Asbury Automotive Group from $180.00 to $210.00 in a report on Wednesday, April 28th. Finally, Truist raised their price objective on Asbury Automotive Group from $180.00 to $210.00 in a research note on Wednesday, April 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Asbury Automotive Group currently has an average rating of “Buy” and a consensus target price of $179.89.
Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Monday, April 26th. The company reported $4.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.17. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.04 billion. Asbury Automotive Group had a return on equity of 35.56% and a net margin of 4.25%. The business’s revenue was up 36.4% compared to the same quarter last year. During the same period last year, the firm posted $1.80 EPS. Sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 17.49 EPS for the current year.
Asbury Automotive Group 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.
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