Group 1 Automotive Inc. (NYSE:GPI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $69.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 13.23% from the stock’s current price.
According to Zacks, “Group 1 Automotive has been gaining from numerous acquisitions and the rising sales of new vehicles. Also, it remains focused on returning value to shareholders through share repurchases and dividend payments. However, dependence on certain auto manufacturers and intensifying competition in the automotive market remain concerns. Group 1 Automotive’s earnings estimates have been stable lately. The company has a mixed record of surprises in recent quarters.”
Other analysts also recently issued reports about the stock. Seaport Global Securities began coverage on shares of Group 1 Automotive in a report on Tuesday, August 9th. They set a “neutral” rating for the company. TheStreet raised shares of Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Thursday, September 15th. Finally, Buckingham Research raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Group 1 Automotive has a consensus rating of “Hold” and a consensus target price of $78.33.
Group 1 Automotive (NYSE:GPI) opened at 60.94 on Tuesday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.31 and a beta of 1.63. Group 1 Automotive has a 12-month low of $47.31 and a 12-month high of $89.64. The stock has a 50 day moving average of $60.15 and a 200 day moving average of $58.66.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.07. The business earned $2.10 billion during the quarter, compared to the consensus estimate of $2.86 billion. Group 1 Automotive had a net margin of 0.82% and a return on equity of 17.97%. Group 1 Automotive’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.98 EPS. Equities research analysts anticipate that Group 1 Automotive will post $7.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Tuesday, August 30th. Group 1 Automotive’s payout ratio is currently 22.66%.
In related news, 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 transaction of $117,800.00. Following the completion of the transaction, the vice president now directly owns 72,633 shares in the company, valued at approximately $4,278,083.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Peter C. Delongchamps sold 7,500 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $61.22, for a total transaction of $459,150.00. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC bought a new position in Group 1 Automotive during the second quarter valued at approximately $202,000. Royal Bank of Canada boosted its position in shares of Group 1 Automotive by 1,596.1% in the second quarter. Royal Bank of Canada now owns 4,732 shares of the company’s stock worth $233,000 after buying an additional 4,453 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Group 1 Automotive by 13.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,774 shares of the company’s stock worth $186,000 after buying an additional 434 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Group 1 Automotive by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 149,729 shares of the company’s stock worth $7,391,000 after buying an additional 7,290 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Group 1 Automotive by 23.4% in the second quarter. Legal & General Group Plc now owns 23,348 shares of the company’s stock worth $1,154,000 after buying an additional 4,434 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Group 1 Automotive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.