Group 1 Automotive Inc. (GPI) Shares Down 2.8%
Group 1 Automotive Inc. (NYSE:GPI)’s share price traded down 2.8% during mid-day trading on Monday . The company traded as low as $56.70 and last traded at $57.38, with a volume of 155,703 shares changing hands. The stock had previously closed at $59.06.
A number of equities analysts have recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of Group 1 Automotive in a research note on Tuesday, August 9th. They issued a “neutral” rating for the company. Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 20th. Finally, Zacks Investment Research cut shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Group 1 Automotive presently has an average rating of “Hold” and a consensus target price of $83.00.
The stock has a 50 day moving average price of $57.94 and a 200 day moving average price of $57.63. The stock has a market capitalization of $1.19 billion and a price-to-earnings ratio of 14.38.
Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, July 28th. The company reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.09 by $0.07. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.86 billion. Group 1 Automotive’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Group 1 Automotive Inc. will post $7.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 1.61%.
In related news, CEO Earl J. Hesterberg sold 10,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. Following the transaction, the chief executive officer now directly owns 165,251 shares in the company, valued at $9,910,102.47. The sale was disclosed in a filing with the SEC, which is available through this link.
Other institutional investors have recently modified their holdings of the company. State of Tennessee Treasury Department purchased a new position in shares of Group 1 Automotive during the fourth quarter worth $1,355,000. Employees Retirement System of Texas bought a new position in Group 1 Automotive during the fourth quarter worth approximately $1,590,000. Finally, Principal Financial Group Inc. boosted 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 worth $11,574,000 after buying an additional 4,012 shares during the period.
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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