Group 1 Automotive Inc. (GPI) Raised to “Buy” at TheStreet
Group 1 Automotive Inc. (NYSE:GPI) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
Several other analysts also recently commented on GPI. Zacks Investment Research downgraded shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 12th. Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 20th. Finally, Seaport Global Securities initiated coverage on shares of Group 1 Automotive in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Group 1 Automotive presently has a consensus rating of “Hold” and a consensus target price of $83.00.
Shares of Group 1 Automotive (NYSE:GPI) traded down 1.76% on Thursday, reaching $60.23. 595,392 shares of the company traded hands. Group 1 Automotive has a 1-year low of $47.31 and a 1-year high of $89.75. The stock has a 50-day moving average price of $60.22 and a 200 day moving average price of $58.50. The firm has a market capitalization of $1.25 billion, a P/E ratio of 15.13 and a beta of 1.63.
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Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.07. Group 1 Automotive had a net margin of 0.82% and a return on equity of 17.97%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period last year, the firm earned $1.98 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Group 1 Automotive will post $7.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 1.53%. Group 1 Automotive’s dividend payout ratio is currently 22.66%.
In other Group 1 Automotive news, VP Darryl M. Burman sold 2,000 shares of Group 1 Automotive stock in a transaction on Monday, August 29th. The shares were sold at an average price of $58.90, for a total value of $117,800.00. Following the sale, the vice president now directly owns 72,633 shares in the company, valued at approximately $4,278,083.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Peter C. Delongchamps sold 7,500 shares of Group 1 Automotive stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $61.22, for a total transaction of $459,150.00. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. bought a new stake in shares of Group 1 Automotive during the first quarter worth about $26,106,000. UBS Group AG boosted its position in shares of Group 1 Automotive by 395.3% in the first quarter. UBS Group AG now owns 294,271 shares of the company’s stock worth $17,270,000 after buying an additional 234,855 shares during the last quarter. Norges Bank acquired a new position in shares of Group 1 Automotive during the fourth quarter worth approximately $16,072,000. Lakewood Capital Management LP boosted its position in shares of Group 1 Automotive by 62.1% in the second quarter. Lakewood Capital Management LP now owns 443,625 shares of the company’s stock worth $21,897,000 after buying an additional 170,000 shares during the last quarter. Finally, Towle & Co. boosted its position in shares of Group 1 Automotive by 125.7% in the second quarter. Towle & Co. now owns 265,491 shares of the company’s stock worth $13,105,000 after buying an additional 147,850 shares during the last quarter. Institutional investors own 97.19% of the company’s stock.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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