Group 1 Automotive’s (NYSE:GPI) Market Perform Rating Reaffirmed at Wells Fargo & Company
Group 1 Automotive, Inc. (NYSE:GPI)‘s stock had its “market perform” rating reiterated by investment analysts at Wells Fargo & Company in a research note issued to investors on Monday. They currently have a $66.00 target price on the stock, down from their previous target price of $75.00. Wells Fargo & Company’s target price indicates a potential upside of 4.96% from the company’s current price.
GPI has been the topic of several other reports. Zacks Investment Research lowered shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine lowered shares of Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Group 1 Automotive has a consensus rating of “Hold” and an average target price of $68.50.
Shares of Group 1 Automotive (NYSE GPI) traded up 0.4334% during mid-day trading on Monday, hitting $63.1525. 84,357 shares of the stock traded hands. The firm has a market capitalization of $1.31 billion, a P/E ratio of 9.2926 and a beta of 1.64. The company’s 50 day moving average is $61.48 and its 200 day moving average is $71.94. Group 1 Automotive has a one year low of $54.70 and a one year high of $83.18.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Friday, April 28th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by $0.18. Group 1 Automotive had a return on equity of 17.16% and a net margin of 1.32%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the prior year, the business posted $1.59 earnings per share. Group 1 Automotive’s revenue was down 3.4% compared to the same quarter last year. On average, equities analysts expect that Group 1 Automotive will post $7.36 EPS for the current fiscal year.
Group 1 Automotive declared that its board has approved a stock repurchase plan on Friday, May 12th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of institutional investors have recently added to or reduced their stakes in GPI. State Street Corp raised its position in Group 1 Automotive by 0.3% in the fourth quarter. State Street Corp now owns 554,464 shares of the company’s stock valued at $43,219,000 after buying an additional 1,661 shares in the last quarter. Bank of Montreal Can raised its position in Group 1 Automotive by 492.7% in the first quarter. Bank of Montreal Can now owns 31,129 shares of the company’s stock valued at $2,306,000 after buying an additional 25,877 shares in the last quarter. Seizert Capital Partners LLC purchased a new position in Group 1 Automotive during the first quarter valued at approximately $2,820,000. Private Advisor Group LLC purchased a new position in Group 1 Automotive during the first quarter valued at approximately $836,000. Finally, Sanders Morris Harris Inc. purchased a new position in Group 1 Automotive during the first quarter valued at approximately $1,701,000. 97.04% of the stock is currently owned by hedge funds and other institutional investors.
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.
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