Asbury Automotive Group, Inc. $ABG Position Lessened by Royal Bank of Canada

Royal Bank of Canada lowered its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 2.9% during the first quarter, HoldingsChannel.com reports. The firm owned 94,566 shares of the company’s stock after selling 2,855 shares during the quarter. Royal Bank of Canada’s holdings in Asbury Automotive Group were worth $18,480,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of Asbury Automotive Group by 16.4% during the 1st quarter. Empowered Funds LLC now owns 12,044 shares of the company’s stock worth $2,354,000 after purchasing an additional 1,697 shares in the last quarter. Inceptionr LLC bought a new stake in shares of Asbury Automotive Group in the 1st quarter valued at approximately $335,000. Cetera Investment Advisers grew its stake in shares of Asbury Automotive Group by 24.7% in the 1st quarter. Cetera Investment Advisers now owns 1,994 shares of the company’s stock valued at $390,000 after buying an additional 395 shares in the last quarter. First Trust Advisors LP increased its holdings in Asbury Automotive Group by 7.5% in the first quarter. First Trust Advisors LP now owns 28,582 shares of the company’s stock worth $5,585,000 after buying an additional 2,001 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Asbury Automotive Group by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,156,426 shares of the company’s stock worth $225,977,000 after buying an additional 34,104 shares during the last quarter.

Insider Transactions at Asbury Automotive Group

In related news, SVP Jed Milstein sold 948 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $250.28, for a total transaction of $237,265.44. Following the completion of the sale, the senior vice president owned 11,259 shares in the company, valued at $2,817,902.52. This represents a 7.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director B. Christopher Disantis bought 157 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $182.31 per share, for a total transaction of $28,622.67. Following the acquisition, the director directly owned 6,400 shares in the company, valued at approximately $1,166,784. The trade was a 2.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.75% of the company’s stock.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $216.38 on Friday. The firm has a market capitalization of $3.88 billion, a PE ratio of 8.09, a PEG ratio of 0.86 and a beta of 0.71. Asbury Automotive Group, Inc. has a 1 year low of $172.01 and a 1 year high of $263.38. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $208.61 and its 200 day simple moving average is $208.48.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping analysts’ consensus estimates of $6.31 by $0.51. Asbury Automotive Group had a net margin of 2.83% and a return on equity of 12.72%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the previous year, the business earned $7.43 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Citigroup increased their price target on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their price target on shares of Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating on the stock in a report on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $242.00 price objective on shares of Asbury Automotive Group in a research note on Tuesday, June 2nd. Finally, UBS Group set a $250.00 price objective on shares of Asbury Automotive Group in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $245.29.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.