Group 1 Automotive Inc. (GPI) Shares Gap Up to $57.71
Group 1 Automotive Inc. (NYSE:GPI) gapped up prior to trading on Wednesday . The stock had previously closed at $57.27, but opened at $57.71. Group 1 Automotive shares last traded at $59.76, with a volume of 146,138 shares changing hands.
GPI has been the subject of several recent research reports. Morgan Stanley reduced their price target on shares of Group 1 Automotive from $80.00 to $62.00 and set an “underweight” rating for the company in a report on Wednesday, April 13th. Zacks Investment Research upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, April 29th. Finally, Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $83.00.
The stock has a 50-day moving average price of $55.46 and a 200 day moving average price of $57.46. The stock has a market cap of $1.32 billion and a PE ratio of 15.35.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, April 27th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.61 billion. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts forecast that Group 1 Automotive Inc. will post $7.45 earnings per share for the current year.
A number of hedge funds and institutional investors recently made changes to their positions in the company. Stevens Capital Management LP raised its position in shares of Group 1 Automotive by 5.1% in the fourth quarter. Stevens Capital Management LP now owns 13,565 shares of the company’s stock valued at $1,027,000 after buying an additional 653 shares in the last quarter. State of Tennessee Treasury Department bought a new position in shares of Group 1 Automotive during the fourth quarter valued at about $1,355,000. Nationwide Fund Advisors raised 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. Employees Retirement System of Texas bought a new position in shares of Group 1 Automotive during the fourth quarter valued at about $1,590,000. Finally, New York State Common Retirement Fund raised 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, 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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