Group 1 Automotive Inc. (GPI) Shares Up 5.1%
Group 1 Automotive Inc. (NYSE:GPI) shot up 5.1% during mid-day trading on Friday . The company traded as high as $51.93 and last traded at $51.86, with a volume of 121,717 shares traded. The stock had previously closed at $49.34.
GPI has been the subject of several recent research reports. Zacks Investment Research upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, April 29th. Morgan Stanley cut their price target on Group 1 Automotive from $80.00 to $62.00 and set an “underweight” rating for the company in a research note on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $88.67.
The company has a market capitalization of $1.15 billion and a price-to-earnings ratio of 13.40. The stock’s 50 day moving average is $56.21 and its 200 day moving average is $58.52.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, April 27th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.10. The firm earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. Group 1 Automotive’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Group 1 Automotive Inc. will post $7.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, May 27th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.22.
Several institutional investors have recently added to or reduced their stakes in GPI. Stevens Capital Management LP boosted its position in Group 1 Automotive by 5.1% in the fourth quarter. Stevens Capital Management LP now owns 13,565 shares of the company’s stock worth $1,027,000 after buying an additional 653 shares during the last quarter. Strs Ohio boosted its position in shares of Group 1 Automotive by 1,116.7% in the fourth quarter. Strs Ohio now owns 14,600 shares of the company’s stock valued at $1,105,000 after buying an additional 13,400 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Group 1 Automotive by 1.2% in the fourth quarter. Nationwide Fund Advisors now owns 18,567 shares of the company’s stock valued at $1,406,000 after buying an additional 223 shares in the last quarter. Chicago Equity Partners LLC boosted its position in shares of Group 1 Automotive by 7.7% in the fourth quarter. Chicago Equity Partners LLC now owns 20,175 shares of the company’s stock valued at $1,527,000 after buying an additional 1,450 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Group 1 Automotive by 3.3% in the fourth quarter. New York State Common Retirement Fund now owns 22,000 shares of the company’s stock valued at $1,665,000 after buying an additional 700 shares in the last quarter.
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company sells new and used cars and light trucks, arranges related vehicle financing, sells service and insurance contracts, provides automotive maintenance and repair services, and sells vehicle parts. The Company operates through three segments: the U.S., which includes the activities of its corporate office, the U.K.
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