Group 1 Automotive (NYSE:GPI) Price Target Raised to $442.00 at Guggenheim

Group 1 Automotive (NYSE:GPI) had its target price lifted by Guggenheim from $420.00 to $442.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Stephens began coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price for the company. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Group 1 Automotive presently has a consensus rating of “Moderate Buy” and an average target price of $425.20.

Group 1 Automotive Stock Up 3.1 %

NYSE GPI opened at $421.14 on Thursday. The stock has a market capitalization of $5.61 billion, a PE ratio of 11.22 and a beta of 1.33. Group 1 Automotive has a 1 year low of $255.73 and a 1 year high of $422.92. The business’s 50-day moving average is $377.50 and its 200 day moving average is $342.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company earned $12.07 earnings per share. Group 1 Automotive’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Group 1 Automotive will post 38.37 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.45%. Group 1 Automotive’s payout ratio is currently 5.01%.

Group 1 Automotive declared that its board has authorized a share repurchase plan on Tuesday, November 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 9.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the sale, the vice president now directly owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Group 1 Automotive by 133.0% in the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock worth $156,253,000 after purchasing an additional 232,846 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 valued at $190,004,000 after buying an additional 115,143 shares during the last quarter. Woodson Capital Management LP grew its holdings in Group 1 Automotive by 114.6% during the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after buying an additional 76,102 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Group 1 Automotive by 596.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock worth $29,259,000 after acquiring an additional 65,414 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Group 1 Automotive by 3,663.1% during the 3rd quarter. Verition Fund Management LLC now owns 55,280 shares of the company’s stock worth $21,174,000 after acquiring an additional 53,811 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

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.