Group 1 Automotive (NYSE:GPI) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Group 1 Automotive (NYSE:GPI) from a sell rating to a hold rating in a report issued on Wednesday.

Other equities research analysts have also recently issued research reports about the company. Stephens assumed coverage on Group 1 Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price target for the company. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Bank of America cut their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.80.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $346.48 on Wednesday. Group 1 Automotive has a one year low of $239.01 and a one year high of $393.93. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 1.78 and a beta of 1.32. The company has a 50-day simple moving average of $364.84 and a 200-day simple moving average of $326.89. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the firm posted $11.73 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Group 1 Automotive will post 39.39 EPS for the current year.

Group 1 Automotive Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) is 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total transaction of $421,188.00. Following the completion of the sale, the vice president now directly owns 9,742 shares in the company, valued at approximately $3,419,344.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in Group 1 Automotive during the 4th quarter valued at about $21,296,000. Park Avenue Securities LLC increased its stake in shares of Group 1 Automotive by 52.3% during the 1st quarter. Park Avenue Securities LLC now owns 2,165 shares of the company’s stock worth $633,000 after purchasing an additional 743 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of Group 1 Automotive by 14.0% during the 1st quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock worth $26,856,000 after purchasing an additional 11,300 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Group 1 Automotive by 5.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,808 shares of the company’s stock valued at $528,000 after buying an additional 96 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Group 1 Automotive during the 1st quarter valued at $247,000. 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.