Group 1 Automotive (NYSE:GPI) Hits New 12-Month High at $393.62

Shares of Group 1 Automotive, Inc. (NYSE:GPI) hit a new 52-week high during trading on Wednesday . The company traded as high as $393.62 and last traded at $389.45, with a volume of 78862 shares traded. The stock had previously closed at $376.70.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Bank of America reduced their price objective on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Morgan Stanley increased their price target on Group 1 Automotive from $260.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Stephens initiated coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $367.80.

Group 1 Automotive Trading Up 1.6 %

The business has a 50 day simple moving average of $343.57 and a 200-day simple moving average of $309.46. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the prior year, the business earned $11.73 EPS. Group 1 Automotive’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that Group 1 Automotive, Inc. will post 39.26 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Friday, August 30th. Group 1 Automotive’s payout ratio is presently 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the completion of the transaction, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GPI. Norges Bank bought a new stake in Group 1 Automotive during the 4th quarter worth about $46,923,000. The Manufacturers Life Insurance Company raised its holdings in Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Group 1 Automotive during the fourth quarter worth about $24,562,000. Woodson Capital Management LP boosted its position in Group 1 Automotive by 114.6% during the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after purchasing an additional 76,102 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Group 1 Automotive in the fourth quarter valued at approximately $21,296,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.