Group 1 Automotive Inc. (GPI) Sees Unusually-High Trading Volume
Group 1 Automotive Inc. (NYSE:GPI) shares saw an uptick in trading volume on Thursday . 381,244 shares changed 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.
A number of research firms have recently issued reports on GPI. Zacks Investment Research cut Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Morgan Stanley dropped their price target 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 research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $88.67.
The company has a 50-day moving average price of $55.57 and a 200-day moving average price of $57.85. The company has a market cap of $1.22 billion and a PE ratio of 14.24.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.49 by $0.10. The firm earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Group 1 Automotive’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS. Equities research analysts forecast that Group 1 Automotive Inc. will post $7.42 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Hodges Capital Management Inc. increased its position 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 during the last quarter. Boston Partners increased its position 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 during the last quarter. Foresters Investment Management Company Inc. purchased a new position in Group 1 Automotive during the fourth quarter valued at approximately $11,734,000. Principal Financial Group Inc. increased its position 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 during the last quarter. Finally, Marshall Wace LLP purchased a new position in Group 1 Automotive during the fourth quarter valued at approximately $6,137,000.
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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