BlackRock Inc. raised its holdings in shares of Group 1 Automotive (NYSE:GPI) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,949,848 shares of the company’s stock after purchasing an additional 343,818 shares during the period. BlackRock Inc. owned approximately 14.09% of Group 1 Automotive worth $192,744,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of GPI. Schwab Charles Investment Management Inc. boosted its stake in Group 1 Automotive by 0.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 123,249 shares of the company’s stock valued at $8,747,000 after purchasing an additional 916 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Group 1 Automotive in the 4th quarter worth $119,000. Teacher Retirement System of Texas purchased a new position in shares of Group 1 Automotive in the 4th quarter worth $488,000. California Public Employees Retirement System boosted its stake in shares of Group 1 Automotive by 3.9% in the 4th quarter. California Public Employees Retirement System now owns 63,010 shares of the company’s stock worth $4,472,000 after buying an additional 2,368 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Group 1 Automotive by 35.0% in the 4th quarter. Wells Fargo & Company MN now owns 43,924 shares of the company’s stock worth $3,118,000 after buying an additional 11,390 shares during the last quarter.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Tuesday. Guggenheim assumed coverage on Group 1 Automotive in a research note on Monday, April 16th. They issued a “neutral” rating on the stock. Morgan Stanley raised their price target on Group 1 Automotive from $53.00 to $62.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 14th. Stephens restated a “hold” rating and issued a $88.00 price target on shares of Group 1 Automotive in a research note on Monday, April 16th. Finally, Buckingham Research downgraded Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $82.00.
NYSE GPI opened at $72.53 on Wednesday. The firm has a market cap of $1.49 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a current ratio of 1.06, a quick ratio of 0.27 and a debt-to-equity ratio of 1.17. Group 1 Automotive has a fifty-two week low of $51.62 and a fifty-two week high of $84.47.
Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, April 26th. The company reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.16. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.66 billion. Group 1 Automotive had a return on equity of 15.47% and a net margin of 1.86%. Group 1 Automotive’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. equities research analysts anticipate that Group 1 Automotive will post 8.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $1.04 annualized dividend and a yield of 1.43%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 13.45%.
Group 1 Automotive declared that its board has authorized a stock buyback plan on Wednesday, May 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Group 1 Automotive Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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