Group 1 Automotive Inc. (GPI) Sees Large Volume Increase
Group 1 Automotive Inc. (NYSE:GPI) saw an uptick in trading volume on Thursday . 381,244 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 348,868 shares.The stock last traded at $55.51 and had previously closed at $54.25.
Several brokerages have issued reports on GPI. Zacks Investment Research cut Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Tuesday. Morgan Stanley dropped their target price on Group 1 Automotive from $80.00 to $62.00 and set an “underweight” rating for the company in a report on Wednesday, April 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $88.67.
The company has a market capitalization of $1.22 billion and a P/E ratio of 14.26. The stock’s 50 day moving average is $55.69 and its 200 day moving average is $58.01.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.49 by $0.10. During the same period in the prior year, the business earned $1.47 earnings per share. The business earned $2.60 billion during the quarter, compared to analyst estimates of $2.61 billion. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Group 1 Automotive Inc. will post $7.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 27th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.66%.
Several hedge funds have bought and sold shares of the stock. Hodges Capital Management Inc. boosted its stake in Group 1 Automotive by 33.2% in the fourth quarter. Hodges Capital Management Inc. now owns 488,515 shares of the company’s stock valued at $36,981,000 after buying an additional 121,695 shares in the last quarter. Marshall Wace LLP acquired a new stake in Group 1 Automotive during the fourth quarter valued at approximately $6,137,000. Principal Financial Group Inc. boosted its stake in Group 1 Automotive by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 152,893 shares of the company’s stock valued at $11,574,000 after buying an additional 4,012 shares in the last quarter. Boston Partners boosted its stake in Group 1 Automotive by 5.7% in the fourth quarter. Boston Partners now owns 340,605 shares of the company’s stock valued at $25,784,000 after buying an additional 18,491 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in 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, through its dealerships, 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.
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