Group 1 Automotive (NYSE:GPI) had its target price raised by Morgan Stanley from $53.00 to $62.00 in a research report released on Wednesday, March 14th. They currently have an underweight rating on the stock.
A number of other brokerages have also issued reports on GPI. Zacks Investment Research upgraded shares of Group 1 Automotive from a hold rating to a strong-buy rating and set a $92.00 price target on the stock in a research note on Wednesday, January 31st. Buckingham Research upgraded shares of Group 1 Automotive from a neutral rating to a buy rating and set a $89.00 price target on the stock in a research note on Friday, January 5th. Finally, Bank of America boosted their price target on shares of Group 1 Automotive from $103.00 to $105.00 and gave the stock a buy rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $82.88.
GPI traded down $1.53 on Wednesday, hitting $62.18. The company had a trading volume of 249,139 shares, compared to its average volume of 320,524. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 1.17. The firm has a market cap of $1,300.31, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.99 and a beta of 1.75. Group 1 Automotive has a 1 year low of $51.62 and a 1 year high of $84.47.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.85 billion. Group 1 Automotive had a net margin of 1.89% and a return on equity of 15.85%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. equities research analysts forecast that Group 1 Automotive will post 9.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.67%. Group 1 Automotive’s payout ratio is currently 13.45%.
In other news, CEO Earl J. Hesterberg sold 28,519 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $80.06, for a total transaction of $2,283,231.14. Following the completion of the transaction, the chief executive officer now directly owns 108,440 shares of the company’s stock, valued at $8,681,706.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Earl J. Hesterberg sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $79.39, for a total value of $3,175,600.00. Following the transaction, the chief executive officer now directly owns 108,440 shares of the company’s stock, valued at $8,609,051.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,519 shares of company stock valued at $7,013,031. Corporate insiders own 6.08% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Group 1 Automotive by 5.5% in the fourth quarter. BlackRock Inc. now owns 2,606,030 shares of the company’s stock valued at $184,949,000 after purchasing an additional 135,710 shares in the last quarter. LSV Asset Management boosted its holdings in Group 1 Automotive by 1.0% in the fourth quarter. LSV Asset Management now owns 646,844 shares of the company’s stock valued at $45,906,000 after purchasing an additional 6,200 shares in the last quarter. Towle & Co. boosted its holdings in Group 1 Automotive by 1.5% in the fourth quarter. Towle & Co. now owns 344,779 shares of the company’s stock valued at $24,469,000 after purchasing an additional 5,030 shares in the last quarter. Millennium Management LLC boosted its holdings in Group 1 Automotive by 158.5% in the fourth quarter. Millennium Management LLC now owns 312,699 shares of the company’s stock valued at $22,192,000 after purchasing an additional 191,709 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Group 1 Automotive by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 296,870 shares of the company’s stock valued at $21,070,000 after purchasing an additional 1,445 shares in the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.
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About Group 1 Automotive
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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