Brokerages Set Group 1 Automotive, Inc. (GPI) Price Target at $79.00
Group 1 Automotive, Inc. (NYSE:GPI) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $79.00.
GPI has been the topic of several analyst reports. Zacks Investment Research upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Wells Fargo & Company upped their target price on Group 1 Automotive from $65.00 to $85.00 and gave the company a “market perform” rating in a report on Monday, October 30th. TheStreet cut Group 1 Automotive from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. Stephens reiterated an “equal weight” rating and issued a $87.00 target price (up from $83.00) on shares of Group 1 Automotive in a report on Wednesday, October 4th. Finally, Goldman Sachs Group upgraded Group 1 Automotive from a “sell” rating to a “neutral” rating and upped their target price for the company from $56.00 to $67.00 in a report on Thursday, September 7th.
In other Group 1 Automotive news, CFO John C. Rickel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $66.99, for a total value of $669,900.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daryl Kenningham sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $78.68, for a total value of $527,156.00. Following the completion of the transaction, the insider now directly owns 42,130 shares in the company, valued at $3,314,788.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,694 shares of company stock worth $5,189,106. Insiders own 6.08% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in shares of Group 1 Automotive by 17.8% during the second quarter. Victory Capital Management Inc. now owns 1,797 shares of the company’s stock worth $114,000 after purchasing an additional 271 shares during the period. Riverhead Capital Management LLC raised its position in shares of Group 1 Automotive by 93.2% during the second quarter. Riverhead Capital Management LLC now owns 1,932 shares of the company’s stock worth $122,000 after purchasing an additional 932 shares during the period. SG Americas Securities LLC acquired a new position in shares of Group 1 Automotive during the second quarter worth approximately $177,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Group 1 Automotive during the second quarter worth approximately $211,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Group 1 Automotive during the third quarter worth approximately $215,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.
Group 1 Automotive (NYSE:GPI) traded down $0.01 during trading hours on Thursday, hitting $81.02. The stock had a trading volume of 180,683 shares, compared to its average volume of 262,780. The company has a market capitalization of $1,690.00, a PE ratio of 10.99, a P/E/G ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.27 and a current ratio of 1.05. Group 1 Automotive has a 52 week low of $51.62 and a 52 week high of $84.47.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, October 26th. The company reported $2.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.47. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. equities analysts forecast that Group 1 Automotive will post 7.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 30th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.23%. Group 1 Automotive’s payout ratio is 15.90%.
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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