GoodHaven Capital Management LLC Purchases 7,555 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

GoodHaven Capital Management LLC boosted its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 63.0% in the first quarter, Holdings Channel.com reports. The firm owned 19,555 shares of the company’s stock after buying an additional 7,555 shares during the quarter. Asbury Automotive Group comprises approximately 1.5% of GoodHaven Capital Management LLC’s investment portfolio, making the stock its 17th largest position. GoodHaven Capital Management LLC’s holdings in Asbury Automotive Group were worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Congress Asset Management Co. bought a new position in shares of Asbury Automotive Group in the 1st quarter worth about $412,000. Salvus Wealth Management LLC increased its stake in shares of Asbury Automotive Group by 1.5% during the first quarter. Salvus Wealth Management LLC now owns 13,699 shares of the company’s stock valued at $3,025,000 after purchasing an additional 204 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Asbury Automotive Group by 30,639.2% in the 1st quarter. GAMMA Investing LLC now owns 129,412 shares of the company’s stock worth $285,790,000 after purchasing an additional 128,991 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Asbury Automotive Group by 43.9% in the 1st quarter. Versant Capital Management Inc now owns 164 shares of the company’s stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Finally, Brucke Financial Inc. purchased a new stake in shares of Asbury Automotive Group in the 4th quarter worth approximately $202,000.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $231.94 on Monday. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 10.78 and a beta of 0.96. The business’s fifty day simple moving average is $224.80 and its two-hundred day simple moving average is $246.70. Asbury Automotive Group, Inc. has a 12 month low of $201.68 and a 12 month high of $312.56. 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 quarterly earnings data on Tuesday, April 29th. The company reported $6.82 EPS for the quarter, missing the consensus estimate of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the business earned $7.21 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABG shares. Wall Street Zen raised Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Bank of America began coverage on Asbury Automotive Group in a research note on Wednesday, May 28th. They issued a “buy” rating and a $325.00 target price on the stock. Citigroup began coverage on Asbury Automotive Group in a report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 price target for the company. Craig Hallum cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Stephens increased their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $261.83.

Asbury Automotive Group 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.