Group 1 Automotive, Inc. (NYSE:GPI) Cut to “Strong Sell” at BidaskClub
BidaskClub cut shares of Group 1 Automotive, Inc. (NYSE:GPI) from a sell rating to a strong sell rating in a research report released on Saturday morning.
A number of other equities analysts have also commented on GPI. ValuEngine lowered shares of Group 1 Automotive from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Zacks Investment Research lowered shares of Group 1 Automotive from a hold rating to a strong sell rating in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company reissued a market perform rating and issued a $66.00 price target (down previously from $75.00) on shares of Group 1 Automotive in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $68.50.
Shares of Group 1 Automotive (NYSE:GPI) opened at 57.81 on Friday. The company’s 50-day moving average is $61.41 and its 200-day moving average is $69.17. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.92 and a beta of 1.62. Group 1 Automotive has a 12-month low of $55.06 and a 12-month high of $83.18.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.87 EPS for the quarter, missing the Zacks’ consensus estimate of $1.99 by $0.12. Group 1 Automotive had a net margin of 1.26% and a return on equity of 15.73%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business earned $2.16 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Group 1 Automotive will post $7.10 earnings per share for the current fiscal year.
Group 1 Automotive declared that its board has approved a share buyback plan on Friday, May 12th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Group 1 Automotive during the fourth quarter worth about $145,000. Norges Bank bought a new position in shares of Group 1 Automotive during the fourth quarter worth about $6,783,000. Bank of Montreal Can raised its position in shares of Group 1 Automotive by 492.7% in the first quarter. Bank of Montreal Can now owns 31,129 shares of the company’s stock worth $2,306,000 after buying an additional 25,877 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Group 1 Automotive by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the company’s stock worth $600,000 after buying an additional 100 shares during the period. Finally, Sanders Morris Harris Inc. bought a new position in shares of Group 1 Automotive during the first quarter worth about $1,701,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.
About Group 1 Automotive
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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