Castleark Management LLC Invests $2.31 Million in Asbury Automotive Group, Inc. (NYSE:ABG)

Castleark Management LLC bought a new position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,680 shares of the company’s stock, valued at approximately $2,310,000.

A number of other large investors also recently bought and sold shares of ABG. Harbor Capital Advisors Inc. purchased a new position in shares of Asbury Automotive Group during the 3rd quarter valued at approximately $31,000. Quarry LP purchased a new stake in shares of Asbury Automotive Group during the 2nd quarter worth about $38,000. GAMMA Investing LLC grew its position in shares of Asbury Automotive Group by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock valued at $94,000 after acquiring an additional 101 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Asbury Automotive Group in the 2nd quarter valued at about $155,000. Finally, Headlands Technologies LLC acquired a new position in Asbury Automotive Group in the 2nd quarter worth about $190,000.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. dropped their price objective on Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Craig Hallum lifted their price target on shares of Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Seaport Res Ptn cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley upgraded 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 report on Wednesday, September 25th. Finally, Bank of America reduced 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 report on Monday, October 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $256.20.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $258.98 on Friday. The company has a market cap of $5.07 billion, a P/E ratio of 14.66 and a beta of 1.18. Asbury Automotive Group, Inc. has a twelve month low of $195.09 and a twelve month high of $277.13. The company’s 50-day moving average price is $243.74 and its 200-day moving average price is $237.69. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98.

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 analysts’ consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a return on equity of 16.51% and a net margin of 2.16%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $8.12 earnings per share. On average, sell-side analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

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.