Rockefeller Capital Management L.P. Invests $14.22 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Rockefeller Capital Management L.P. acquired a new stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,596 shares of the company’s stock, valued at approximately $14,219,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in Asbury Automotive Group in the first quarter worth about $878,000. Tidal Investments LLC purchased a new position in shares of Asbury Automotive Group in the first quarter worth approximately $537,000. Bridges Investment Management Inc. bought a new stake in Asbury Automotive Group during the second quarter valued at approximately $760,000. Janney Montgomery Scott LLC purchased a new stake in Asbury Automotive Group during the third quarter valued at approximately $804,000. Finally, Intech Investment Management LLC bought a new position in Asbury Automotive Group in the third quarter worth approximately $1,223,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ABG shares. Stephens began coverage on shares of Asbury Automotive Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $216.00 price objective for the company. Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Craig Hallum increased their target price on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $256.20.

Asbury Automotive Group Stock Up 2.0 %

NYSE ABG opened at $265.02 on Tuesday. Asbury Automotive Group, Inc. has a 12 month low of $195.09 and a 12 month high of $277.13. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. The stock has a market cap of $5.19 billion, a PE ratio of 15.00 and a beta of 1.16. The stock’s 50 day moving average is $241.65 and its 200 day moving average is $237.04.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $4.30 billion. During the same quarter in the previous year, the business earned $8.12 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Research analysts predict 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.