Asbury Automotive Group, Inc. $ABG Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Decreases Position

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 70.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the company’s stock after selling 2,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Asbury Automotive Group were worth $207,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Daytona Street Capital LLC acquired a new stake in shares of Asbury Automotive Group in the 3rd quarter valued at $32,000. Global Retirement Partners LLC purchased a new stake in shares of Asbury Automotive Group during the 2nd quarter worth $34,000. Allworth Financial LP purchased a new stake in shares of Asbury Automotive Group during the 2nd quarter worth $36,000. USA Financial Formulas acquired a new position in shares of Asbury Automotive Group during the third quarter worth $39,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Asbury Automotive Group by 163.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 321 shares of the company’s stock worth $75,000 after purchasing an additional 199 shares in the last quarter.

Asbury Automotive Group Stock Up 0.1%

ABG stock opened at $202.91 on Monday. The stock has a market cap of $3.64 billion, a P/E ratio of 8.10, a PEG ratio of 1.45 and a beta of 0.78. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 0.73. Asbury Automotive Group, Inc. has a twelve month low of $160.30 and a twelve month high of $258.74. The company’s 50 day moving average is $188.22 and its two-hundred day moving average is $203.37.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 27th. The company reported $6.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.42 by ($0.26). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.51 billion. Asbury Automotive Group had a net margin of 2.66% and a return on equity of 11.85%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.17 EPS. Research analysts expect that Asbury Automotive Group, Inc. will post 24.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABG. JPMorgan Chase & Co. dropped their target price on Asbury Automotive Group from $190.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, October 6th. Morgan Stanley decreased their price target on Asbury Automotive Group from $230.00 to $184.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. Citigroup lifted their price target on Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. UBS Group upped their price objective on Asbury Automotive Group from $193.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 28th. Finally, Barclays dropped their price objective on Asbury Automotive Group from $230.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, October 29th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Asbury Automotive Group has a consensus rating of “Hold” and a consensus target price of $220.88.

About Asbury Automotive Group

Asbury Automotive Group is a U.S. automotive retailer that operates franchised new- and used-vehicle dealerships. Its dealerships sell vehicles from a range of manufacturers and offer related services, including vehicle financing and insurance products, maintenance and repairs, parts sales, and collision repair.

The company also operates Clicklane, a digital platform that lets customers research, purchase, finance, and arrange delivery of vehicles online. Asbury was founded in 1995 and has expanded through acquisitions, including its 2021 purchase of Larry H.