Stephens Reaffirms Equal Weight Rating for Group 1 Automotive, Inc. (GPI)
Stephens reissued their equal weight rating on shares of Group 1 Automotive, Inc. (NYSE:GPI) in a research note published on Wednesday morning. Stephens currently has a $87.00 price objective on the stock, up from their previous price objective of $83.00.
A number of other equities research analysts have also weighed in on GPI. BidaskClub upgraded Group 1 Automotive from a sell rating to a hold rating in a research note on Thursday, June 15th. Zacks Investment Research lowered Group 1 Automotive from a hold rating to a strong sell rating in a research note on Wednesday, July 12th. Wells Fargo & Company restated a market perform rating and set a $66.00 price objective (down previously from $75.00) on shares of Group 1 Automotive in a research note on Monday, July 17th. ValuEngine lowered Group 1 Automotive from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Finally, TheStreet lowered Group 1 Automotive from a b- rating to a c+ rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $73.80.
Shares of Group 1 Automotive (NYSE GPI) traded down 1.32% during trading on Wednesday, hitting $71.72. The stock had a trading volume of 278,452 shares. Group 1 Automotive has a 12-month low of $51.62 and a 12-month high of $83.18. The stock has a 50-day moving average of $64.57 and a 200 day moving average of $63.87. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 11.02 and a beta of 1.63.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business earned $2.16 EPS. Group 1 Automotive’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts predict that Group 1 Automotive will post $7.05 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Wednesday, August 30th. Group 1 Automotive’s dividend payout ratio is presently 14.75%.
In other Group 1 Automotive news, CFO John C. Rickel sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $66.99, for a total transaction of $669,900.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Group 1 Automotive by 47,561.6% during the 1st quarter. BlackRock Inc. now owns 2,537,979 shares of the company’s stock worth $188,015,000 after buying an additional 2,532,654 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Group 1 Automotive by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,275,649 shares of the company’s stock worth $144,095,000 after buying an additional 122,130 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Group 1 Automotive by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,802,293 shares of the company’s stock worth $114,122,000 after buying an additional 295,967 shares during the last quarter. Northern Trust Corp lifted its holdings in Group 1 Automotive by 25.9% during the 2nd quarter. Northern Trust Corp now owns 765,256 shares of the company’s stock worth $48,456,000 after buying an additional 157,223 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Group 1 Automotive by 1.2% during the 2nd quarter. LSV Asset Management now owns 652,444 shares of the company’s stock worth $41,312,000 after buying an additional 7,600 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors.
Group 1 Automotive Company Profile
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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