Group 1 Automotive, Inc. (GPI) Receives Average Rating of “Hold” from Analysts
Group 1 Automotive, Inc. (NYSE:GPI) has been assigned a consensus rating of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $65.67.
A number of analysts recently weighed in on GPI shares. 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. BidaskClub raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $66.00 target price (down previously from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. Finally, TheStreet lowered shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a report on Thursday, August 17th.
Shares of Group 1 Automotive (GPI) traded down 1.24% during trading on Tuesday, reaching $54.26. The company had a trading volume of 32,269 shares. Group 1 Automotive has a 12-month low of $51.62 and a 12-month high of $83.18. The firm has a 50-day moving average of $59.61 and a 200-day moving average of $66.81. The company has a market cap of $1.09 billion, a P/E ratio of 8.34 and a beta of 1.62.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by $0.12. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.70 billion. Group 1 Automotive had a net margin of 1.26% and a return on equity of 15.73%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. On average, equities research analysts anticipate that Group 1 Automotive will post $7.09 EPS for the current year.
Group 1 Automotive declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 12th that permits the company to repurchase $75.00 million in shares. This repurchase authorization permits the company to buy up to 5.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, August 30th. Group 1 Automotive’s dividend payout ratio is presently 14.75%.
Several institutional investors have recently made changes to their positions in GPI. BlackRock Inc. raised its position in shares of Group 1 Automotive by 47,561.6% in the first quarter. BlackRock Inc. now owns 2,537,979 shares of the company’s stock valued at $188,015,000 after buying an additional 2,532,654 shares during the period. Vanguard Group Inc. boosted its stake in Group 1 Automotive by 5.7% in the second quarter. Vanguard Group Inc. now owns 2,275,649 shares of the company’s stock valued at $144,095,000 after buying an additional 122,130 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Group 1 Automotive by 19.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,802,293 shares of the company’s stock valued at $114,122,000 after buying an additional 295,967 shares in the last quarter. Northern Trust Corp boosted its stake in Group 1 Automotive by 25.9% in the second quarter. Northern Trust Corp now owns 765,256 shares of the company’s stock valued at $48,456,000 after buying an additional 157,223 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Group 1 Automotive by 1.2% in the second quarter. LSV Asset Management now owns 652,444 shares of the company’s stock valued at $41,312,000 after buying an additional 7,600 shares in the last quarter. 97.52% of the stock is owned by 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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