Citigroup Inc. Buys 10,603 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Citigroup Inc. increased its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,917 shares of the company’s stock after buying an additional 10,603 shares during the quarter. Citigroup Inc.’s holdings in Asbury Automotive Group were worth $13,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in Asbury Automotive Group in the 3rd quarter worth $1,223,000. PNC Financial Services Group Inc. grew its stake in shares of Asbury Automotive Group by 36.7% in the third quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock worth $984,000 after purchasing an additional 1,107 shares during the last quarter. Natixis Advisors LLC purchased a new position in Asbury Automotive Group during the 3rd quarter valued at about $26,573,000. Empowered Funds LLC raised its position in Asbury Automotive Group by 22.4% during the 3rd quarter. Empowered Funds LLC now owns 5,380 shares of the company’s stock valued at $1,284,000 after purchasing an additional 985 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in Asbury Automotive Group by 3.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,843 shares of the company’s stock worth $440,000 after buying an additional 57 shares during the period.

Asbury Automotive Group Stock Down 1.4 %

Shares of Asbury Automotive Group stock opened at $260.03 on Friday. Asbury Automotive Group, Inc. has a 1 year low of $195.09 and a 1 year high of $277.13. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 14.71 and a beta of 1.16. The company has a 50-day moving average of $239.54 and a 200 day moving average of $236.62. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.20 and a quick ratio of 0.41.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share 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 business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the business posted $8.12 EPS. Asbury Automotive Group’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABG. Craig Hallum boosted their target price on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Morgan Stanley raised shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $190.00 to $240.00 in a research note on Wednesday, September 25th. Bank of America decreased their price target on shares of Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $256.20.

About Asbury Automotive Group

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.