Edgestream Partners L.P. Buys 4,936 Shares of Asbury Automotive Group, Inc. $ABG

Edgestream Partners L.P. grew its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,267 shares of the company’s stock after acquiring an additional 4,936 shares during the period. Edgestream Partners L.P.’s holdings in Asbury Automotive Group were worth $10,409,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABG. SG Americas Securities LLC grew its stake in Asbury Automotive Group by 1,570.2% in the fourth quarter. SG Americas Securities LLC now owns 9,086 shares of the company’s stock worth $2,113,000 after purchasing an additional 8,542 shares in the last quarter. Comerica Bank lifted its holdings in shares of Asbury Automotive Group by 103.1% in the 4th quarter. Comerica Bank now owns 18,880 shares of the company’s stock worth $4,390,000 after buying an additional 9,586 shares during the period. M&T Bank Corp bought a new position in shares of Asbury Automotive Group during the 4th quarter worth $5,639,000. Thrivent Financial for Lutherans increased its stake in shares of Asbury Automotive Group by 106.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 296,057 shares of the company’s stock valued at $68,842,000 after buying an additional 152,669 shares during the period. Finally, Fieldview Capital Management LLC bought a new stake in shares of Asbury Automotive Group in the fourth quarter valued at about $3,336,000.

More Asbury Automotive Group News

Here are the key news stories impacting Asbury Automotive Group this week:

• Positive Sentiment: Adjusted earnings were $6.82 per share, above the $6.31 analyst consensus. Used-vehicle gains helped offset weaker new-vehicle margins, with used retail gross profit per unit rising 16% to $2,002. ABG Q2 Earnings Beat on Used-Vehicle Gains, Revenues Miss
• Positive Sentiment: Asbury repurchased approximately 668,000 shares for $131 million during the quarter. The buybacks can support per-share earnings and contributed to investor optimism about the company’s valuation and capital-allocation strategy. Asbury Automotive Group Is Up After Q2 Beat and Aggressive Buybacks
• Positive Sentiment: Gross profit reached approximately $753 million, while liquidity stood at $966 million at quarter-end. Management also reported that 70% of stores had converted to the Tekion platform, indicating continued progress on its technology rollout. Asbury Automotive Q2 Revenue Reaches $4.4 Billion as Net Income Falls
• Neutral Sentiment: Investor commentary is divided: some analysts view the solid quarter and buybacks as evidence that ABG remains undervalued, while others question whether the recent rally has already reflected the earnings improvement. Asbury Automotive: Solid Q2 Leaves Shares Meaningfully Undervalued
• Negative Sentiment: Revenue of approximately $4.38 billion fell short of the $4.49 billion consensus and increased only 0.3% year over year. GAAP net income declined to about $115 million from $153 million, while diluted GAAP EPS fell to $6.25 from $7.76 in the prior-year quarter. Asbury Automotive Group Quarterly Earnings Results

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABG shares. Stephens reiterated an “overweight” rating and set a $242.00 target price on shares of Asbury Automotive Group in a report on Tuesday, June 2nd. UBS Group set a $250.00 price objective on shares of Asbury Automotive Group in a report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Asbury Automotive Group in a research note on Friday, July 24th. Morgan Stanley set a $220.00 target price on Asbury Automotive Group in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $244.14.

Insider Buying and Selling at Asbury Automotive Group

In related news, Director B. Christopher Disantis acquired 157 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $182.31 per share, for a total transaction of $28,622.67. Following the completion of the acquisition, the director directly owned 6,400 shares in the company, valued at $1,166,784. The trade was a 2.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

Asbury Automotive Group Stock Performance

Shares of ABG opened at $247.84 on Thursday. Asbury Automotive Group, Inc. has a 12 month low of $172.01 and a 12 month high of $263.38. The stock has a fifty day moving average price of $204.37 and a 200-day moving average price of $209.48. The company has a current ratio of 0.94, a quick ratio of 0.29 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4.61 billion, a PE ratio of 9.27, a P/E/G ratio of 1.38 and a beta of 0.74.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share for the quarter, topping the consensus estimate of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.74% and a net margin of 2.83%.The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the previous year, the business earned $7.43 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Asbury Automotive Group, Inc. will post 26.4 earnings per share for the current fiscal year.

Asbury Automotive Group Company Profile

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.