Group 1 Automotive’s (GPI) “Neutral” Rating Reaffirmed at Goldman Sachs Group Inc.
Group 1 Automotive Inc. (NYSE:GPI)‘s stock had its “neutral” rating restated by stock analysts at Goldman Sachs Group Inc. in a note issued to investors on Saturday. They presently have a $61.00 price target on the stock, down from their prior price target of $64.00. Goldman Sachs Group Inc.’s target price suggests a potential downside of 4.49% from the company’s current price.
GPI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Tuesday, September 27th. Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 20th. TheStreet upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating in a research report on Thursday, September 15th. Finally, Seaport Global Securities began coverage on shares of Group 1 Automotive in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $64.00.
Group 1 Automotive (NYSE:GPI) opened at 63.87 on Friday. Group 1 Automotive has a 12 month low of $47.31 and a 12 month high of $89.64. The stock has a market cap of $1.32 billion, a PE ratio of 16.05 and a beta of 1.58. The company has a 50-day moving average of $60.78 and a 200-day moving average of $58.97.
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Group 1 Automotive (NYSE:GPI) last announced its 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 net margin of 0.82% and a return on equity of 17.97%. The business 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 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Group 1 Automotive will post $7.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.44%. Group 1 Automotive’s dividend payout ratio is 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 owns 72,633 shares in the company, valued at $4,278,083.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Earl J. Hesterberg sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. Following the transaction, the chief executive officer now owns 165,251 shares of the company’s stock, valued at approximately $9,910,102.47. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Group 1 Automotive by 131.7% in the first quarter. Goldman Sachs Group Inc. now owns 219,234 shares of the company’s stock worth $12,867,000 after buying an additional 124,602 shares in the last quarter. Hillcrest Asset Management LLC acquired a new stake in Group 1 Automotive during the first quarter worth about $4,727,000. BlackRock Institutional Trust Company N.A. increased its stake in Group 1 Automotive by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 688,829 shares of the company’s stock worth $40,427,000 after buying an additional 4,440 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Group 1 Automotive by 614.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 61,830 shares of the company’s stock worth $3,629,000 after buying an additional 53,170 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Group 1 Automotive by 6.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,374 shares of the company’s stock worth $315,000 after buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
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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