Crossmark Global Holdings Inc. Acquires 259 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Crossmark Global Holdings Inc. grew its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 18.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,680 shares of the company’s stock after acquiring an additional 259 shares during the period. Crossmark Global Holdings Inc.’s holdings in Asbury Automotive Group were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ABG. Harbor Capital Advisors Inc. purchased a new stake in Asbury Automotive Group in the third quarter worth about $31,000. Quarry LP bought a new stake in Asbury Automotive Group during the 2nd quarter worth approximately $38,000. GAMMA Investing LLC lifted its holdings in Asbury Automotive Group by 100.0% during the second quarter. GAMMA Investing LLC now owns 292 shares of the company’s stock valued at $67,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Asbury Automotive Group in the second quarter worth approximately $155,000. Finally, Headlands Technologies LLC bought a new stake in shares of Asbury Automotive Group during the 2nd quarter valued at $190,000.

Asbury Automotive Group Price Performance

Asbury Automotive Group stock opened at $258.18 on Friday. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The firm’s fifty day moving average is $233.22 and its 200 day moving average is $234.38. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 14.61 and a beta of 1.16.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $6.58 by ($0.23). The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.12 EPS. Sell-side analysts forecast that Asbury Automotive Group, Inc. will post 25.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ABG shares. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Stephens initiated coverage on Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target on the stock. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $190.00 to $240.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $256.20.

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.