The PNC Financial Services Group Inc. Raises Holdings in Asbury Automotive Group, Inc. (NYSE:ABG)

The PNC Financial Services Group Inc. boosted its holdings in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,284 shares of the company’s stock after purchasing an additional 61 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in Asbury Automotive Group were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Comerica Bank boosted its position in Asbury Automotive Group by 0.5% during the fourth quarter. Comerica Bank now owns 20,562 shares of the company’s stock worth $3,340,000 after purchasing an additional 111 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Asbury Automotive Group by 11.2% during the fourth quarter. Captrust Financial Advisors now owns 1,340 shares of the company’s stock valued at $195,000 after acquiring an additional 135 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Asbury Automotive Group by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 27,711 shares of the company’s stock valued at $4,039,000 after acquiring an additional 200 shares during the last quarter. Vantage Consulting Group Inc acquired a new position in shares of Asbury Automotive Group during the fourth quarter valued at approximately $34,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Asbury Automotive Group by 3.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 7,970 shares of the company’s stock valued at $1,566,000 after acquiring an additional 299 shares during the last quarter.

ABG stock opened at $175.26 on Friday. The stock’s fifty day simple moving average is $199.36. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.52 and a current ratio of 1.26. The firm has a market capitalization of $3.39 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.59 and a beta of 1.72. Asbury Automotive Group, Inc. has a 52-week low of $88.74 and a 52-week high of $216.88.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Monday, April 26th. The company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $1.17. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Asbury Automotive Group had a return on equity of 35.56% and a net margin of 4.25%. The firm’s quarterly revenue was up 36.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, analysts predict that Asbury Automotive Group, Inc. will post 17.49 EPS for the current fiscal year.

A number of equities analysts have commented on the company. Craig Hallum increased their target price on Asbury Automotive Group from $180.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Truist Securities increased their target price on Asbury Automotive Group from $180.00 to $210.00 in a report on Wednesday, April 28th. Zacks Investment Research raised Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $229.00 target price for the company in a report on Wednesday, April 28th. Truist increased their price target on Asbury Automotive Group from $180.00 to $210.00 in a report on Wednesday, April 28th. Finally, Morgan Stanley increased their price target on Asbury Automotive Group from $180.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Asbury Automotive Group has a consensus rating of “Buy” and an average target price of $179.89.

Asbury Automotive Group Company 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.

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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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