Group 1 Automotive (NYSE:GPI) Upgraded by StockNews.com to Hold

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

A number of other equities analysts also recently commented on GPI. Bank of America reduced their target price 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. upped their price objective on Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Morgan Stanley raised 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. Finally, Stephens initiated coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Group 1 Automotive currently has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Group 1 Automotive Price Performance

GPI stock opened at $348.78 on Wednesday. Group 1 Automotive has a 1 year low of $228.84 and a 1 year high of $393.93. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26. The firm has a market capitalization of $4.72 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.32. The business has a 50 day simple moving average of $365.01 and a 200-day simple moving average of $326.25.

Group 1 Automotive (NYSE:GPI) last issued its 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 company 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. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Group 1 Automotive will post 39.39 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.54%. Group 1 Automotive’s payout ratio is presently 4.44%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of the firm’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 in the company, valued at $3,419,344.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GPI. Values First Advisors Inc. acquired a new stake in Group 1 Automotive during the 3rd quarter worth approximately $106,000. Assenagon Asset Management S.A. boosted its holdings in Group 1 Automotive by 57.4% in the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock valued at $24,222,000 after purchasing an additional 23,051 shares during the period. Raymond James & Associates grew its stake in Group 1 Automotive by 14.7% during the 3rd quarter. Raymond James & Associates now owns 46,483 shares of the company’s stock worth $17,805,000 after purchasing an additional 5,942 shares in the last quarter. Blue Trust Inc. increased its holdings in Group 1 Automotive by 43.7% during the 3rd quarter. Blue Trust Inc. now owns 388 shares of the company’s stock worth $149,000 after purchasing an additional 118 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Group 1 Automotive in the 3rd quarter valued at about $345,000. Hedge funds and other 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.