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

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

GPI has been the topic of several other research reports. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Finally, Stephens began coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $425.20.

Group 1 Automotive Stock Up 3.1 %

Shares of GPI stock opened at $421.14 on Thursday. 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 has a one year low of $255.73 and a one year high of $422.92. The company’s fifty day moving average price is $377.50 and its 200-day moving average price is $342.27. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.22 and a beta of 1.33.

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

Group 1 Automotive declared that its Board of Directors has approved a share repurchase program on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

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

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Group 1 Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its position in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after purchasing an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Group 1 Automotive during the third quarter valued at $36,000. Avior Wealth Management LLC bought a new position in Group 1 Automotive during the third quarter valued at $46,000. Hexagon Capital Partners LLC raised its stake in shares of Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after acquiring an additional 51 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Group 1 Automotive in the 2nd quarter worth about $48,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

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.