Group 1 Automotive Inc. (GPI) Stock Rating Reaffirmed by Goldman Sachs Group Inc.
Group 1 Automotive Inc. (NYSE:GPI)‘s stock had its “neutral” rating restated by research analysts at Goldman Sachs Group Inc. in a note issued to investors on Saturday. They currently have a $61.00 price objective on the stock, down from their prior price objective of $64.00. Goldman Sachs Group Inc.’s price objective suggests a potential downside of 4.49% from the company’s current price.
Several other research analysts have also issued reports on GPI. Zacks Investment Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 12th. Buckingham Research raised Group 1 Automotive from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 20th. Seaport Global Securities started coverage on Group 1 Automotive in a research report on Tuesday, August 9th. They set a “neutral” rating for the company. Finally, TheStreet raised Group 1 Automotive from a “hold” rating to a “buy” rating in a research report on Thursday, September 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Group 1 Automotive presently has a consensus rating of “Hold” and an average price target of $64.00.
Group 1 Automotive (NYSE:GPI) opened at 63.87 on Friday. Group 1 Automotive has a 52-week low of $47.31 and a 52-week high of $89.64. The company’s 50 day moving average price is $60.78 and its 200 day moving average price is $58.97. The company has a market cap of $1.32 billion, a P/E ratio of 16.05 and a beta of 1.58.
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Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.07. Group 1 Automotive had a return on equity of 17.97% and a net margin of 0.82%. The company earned $2.10 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the company earned $1.98 EPS. Group 1 Automotive’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Group 1 Automotive will post $7.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) is presently 22.66%.
In other news, VP Peter C. Delongchamps sold 7,500 shares of Group 1 Automotive stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $61.22, for a total value of $459,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Darryl M. Burman sold 2,000 shares of Group 1 Automotive stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $58.90, for a total value of $117,800.00. Following the completion of the transaction, the vice president now directly owns 72,633 shares of the company’s stock, valued at $4,278,083.70. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eqis Capital Management Inc. acquired a new position in Group 1 Automotive during the third quarter valued at $220,000. Mason Street Advisors LLC acquired a new position in Group 1 Automotive during the second quarter valued at $202,000. Royal Bank of Canada raised its position in 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 valued at $233,000 after buying an additional 4,453 shares during the period. Public Employees Retirement System of Ohio raised its position in 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 valued at $186,000 after buying an additional 434 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in 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 valued at $7,391,000 after buying an additional 7,290 shares during the period. 97.19% of the stock is owned by hedge funds and other 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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