Group 1 Automotive Inc. (GPI) Sees Large Volume Increase
Group 1 Automotive Inc. (NYSE:GPI) saw unusually-strong trading volume on Tuesday . Approximately 230,340 shares traded hands during 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.
Several equities analysts have weighed in on GPI shares. Zacks Investment Research downgraded shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 12th. Seaport Global Securities started coverage on shares of Group 1 Automotive in a report on Tuesday, August 9th. They set a “neutral” rating for the company. Finally, Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a report on Wednesday, July 20th. Two investment 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’s stock. Group 1 Automotive presently has an average rating of “Hold” and an average price target of $83.00.
The company has a 50 day moving average price of $59.18 and a 200 day moving average price of $57.93. The stock has a market capitalization of $1.23 billion and a price-to-earnings ratio of 14.98.
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, beating analysts’ consensus estimates of $2.09 by $0.07. The business earned $2.10 billion during the quarter, compared to analyst estimates of $2.86 billion. Group 1 Automotive’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. Analysts predict that Group 1 Automotive Inc. will post $7.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.54%.
In other news, CEO Earl J. Hesterberg sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $59.97, for a total value of $599,700.00. Following the transaction, the chief executive officer now owns 165,251 shares in the company, valued at approximately $9,910,102.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently bought a new position in Group 1 Automotive stock. Employees Retirement System of Texas bought a new position in shares of Group 1 Automotive Inc. (NYSE:GPI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,000 shares of the company’s stock, valued at approximately $1,590,000. Employees Retirement System of Texas owned 0.09% of Group 1 Automotive at the end of the most recent 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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