The PNC Financial Services Group Inc. Buys 61 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

The PNC Financial Services Group Inc. lifted its stake in Asbury Automotive Group, Inc. (NYSE:ABG) by 5.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,284 shares of the company’s stock after buying an additional 61 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in Asbury Automotive Group were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABG. Nisa Investment Advisors LLC raised its stake in shares of Asbury Automotive Group by 49.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 910 shares of the company’s stock worth $133,000 after buying an additional 300 shares during the period. Comerica Bank raised its stake in shares of Asbury Automotive Group by 0.5% in the fourth quarter. Comerica Bank now owns 20,562 shares of the company’s stock worth $3,340,000 after buying an additional 111 shares during the period. California Public Employees Retirement System raised its stake in shares of Asbury Automotive Group by 1.4% in the fourth quarter. California Public Employees Retirement System now owns 47,268 shares of the company’s stock worth $6,889,000 after buying an additional 653 shares during the period. CIBC Asset Management Inc bought a new position in shares of Asbury Automotive Group in the fourth quarter worth about $364,000. Finally, Community Capital Management Inc. bought a new stake in Asbury Automotive Group during the 4th quarter valued at approximately $1,312,000.

Several analysts recently issued reports on ABG shares. Truist lifted their target price on Asbury Automotive Group from $180.00 to $210.00 in a research note on Wednesday, April 28th. Truist Securities lifted their target price on Asbury Automotive Group from $180.00 to $210.00 in a research note on Wednesday, April 28th. Craig Hallum lifted their target price on Asbury Automotive Group from $180.00 to $230.00 and gave the company a “buy” rating in a research note 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 on the stock in a research note on Wednesday, April 28th. Finally, Morgan Stanley lifted their target price on Asbury Automotive Group from $180.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $179.89.

NYSE:ABG opened at $175.26 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.52 and a debt-to-equity ratio of 1.16. Asbury Automotive Group, Inc. has a 1 year low of $88.74 and a 1 year high of $216.88. The business has a 50 day moving average price of $199.36. The company has a market cap of $3.39 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 0.59 and a beta of 1.72.

Asbury Automotive Group (NYSE:ABG) last released its quarterly earnings data on Monday, April 26th. The company reported $4.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.51 by $1.17. Asbury Automotive Group had a return on equity of 35.56% and a net margin of 4.25%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $1.80 EPS. The company’s revenue was up 36.4% compared to the same quarter last year. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 17.49 EPS for the current fiscal year.

About Asbury Automotive Group

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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