New York State Common Retirement Fund Buys 4,384 Shares of Asbury Automotive Group, Inc. $ABG

New York State Common Retirement Fund increased its stake in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,521 shares of the company's stock after buying an additional 4,384 shares during the quarter. New York State Common Retirement Fund owned approximately 0.36% of Asbury Automotive Group worth $16,822,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV lifted its stake in Asbury Automotive Group by 1.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 4,074 shares of the company's stock valued at $900,000 after acquiring an additional 51 shares during the last quarter. US Bancorp DE raised its holdings in shares of Asbury Automotive Group by 1.7% in the 1st quarter. US Bancorp DE now owns 3,540 shares of the company's stock valued at $782,000 after purchasing an additional 58 shares during the period. CWM LLC lifted its stake in Asbury Automotive Group by 7.6% in the 2nd quarter. CWM LLC now owns 923 shares of the company's stock valued at $220,000 after purchasing an additional 65 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Asbury Automotive Group by 1.2% during the second quarter. Maryland State Retirement & Pension System now owns 5,777 shares of the company's stock worth $1,378,000 after purchasing an additional 66 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Asbury Automotive Group by 64.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company's stock worth $49,000 after buying an additional 81 shares during the last quarter.

Asbury Automotive Group Stock Performance

ABG opened at $230.10 on Wednesday. The business has a fifty day simple moving average of $235.65 and a 200 day simple moving average of $238.80. The company has a market capitalization of $4.47 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.47 and a beta of 0.88. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.30.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Asbury Automotive Group from $230.00 to $235.00 and gave the company an "underweight" rating in a research report on Wednesday, November 5th. Morgan Stanley increased their price target on Asbury Automotive Group from $225.00 to $230.00 and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Asbury Automotive Group in a report on Monday. Bank of America reduced their price objective on shares of Asbury Automotive Group from $335.00 to $300.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Finally, Zacks Research lowered shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $254.00.

Read Our Latest Stock Report on Asbury Automotive Group

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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