Group 1 Automotive Inc. (GPI) Sees Unusually-High Trading Volume
Shares of Group 1 Automotive Inc. (NYSE:GPI) saw an uptick in trading volume on Tuesday . 230,340 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 217,199 shares.The stock last traded at $59.42 and had previously closed at $58.73.
A number of research firms have issued reports on GPI. Seaport Global Securities began coverage on Group 1 Automotive in a research note on Tuesday, August 9th. They issued a “neutral” rating on the stock. 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. Finally, Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $83.00.
The firm’s 50 day moving average price is $59.32 and its 200 day moving average price is $57.94. The company has a market cap of $1.24 billion and a price-to-earnings ratio of 15.07.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Thursday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.07. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Group 1 Automotive Inc. will post $7.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, August 30th.
In other Group 1 Automotive news, CEO Earl J. Hesterberg sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $59.97, for a total value of $599,700.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Darryl M. Burman sold 2,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $58.90, for a total value of $117,800.00. Following the completion of the sale, the vice president now owns 72,633 shares in the company, valued at $4,278,083.70. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Group 1 Automotive stock. Principal Financial Group Inc. increased its position in shares of Group 1 Automotive Inc. (NYSE:GPI) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 152,893 shares of the company’s stock after buying an additional 4,012 shares during the period. Principal Financial Group Inc. owned approximately 0.67% of Group 1 Automotive worth $11,574,000 as of its most recent SEC filing.
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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