PNC Financial Services Group Inc. Purchases 1,107 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

PNC Financial Services Group Inc. lifted its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 36.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,126 shares of the company’s stock after acquiring an additional 1,107 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Asbury Automotive Group were worth $984,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ABG. Harbor Capital Advisors Inc. bought a new position in Asbury Automotive Group during the 3rd quarter worth about $31,000. Quarry LP bought a new position in shares of Asbury Automotive Group during the second quarter valued at approximately $38,000. GAMMA Investing LLC increased 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 buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Asbury Automotive Group in the second quarter worth approximately $155,000. Finally, Headlands Technologies LLC purchased a new stake in Asbury Automotive Group during the second quarter worth $190,000.

Wall Street Analyst Weigh In

ABG has been the subject of several recent research reports. Stephens assumed coverage on Asbury Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price target for the company. Bank of America reduced their target price on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $256.20.

Asbury Automotive Group Stock Performance

ABG opened at $259.88 on Thursday. The company has a market cap of $5.09 billion, a P/E ratio of 14.92 and a beta of 1.16. 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 50-day moving average price is $238.74 and its 200-day moving average price is $236.45. Asbury Automotive Group, Inc. has a 52-week low of $195.09 and a 52-week high of $277.13.

Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the company posted $8.12 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 EPS for the current fiscal 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.