Group 1 Automotive (NYSE:GPI) Sets New 52-Week Low – What’s Next?

Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) hit a new 52-week low during trading on Monday. The stock traded as low as $243.36 and last traded at $242.29, with a volume of 74543 shares trading hands. The stock had previously closed at $252.18.

Analysts Set New Price Targets

GPI has been the topic of several recent analyst reports. Evercore set a $360.00 target price on shares of Group 1 Automotive in a research report on Tuesday, August 4th. Barclays decreased their price target on Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $300.00 price objective (down from $400.00) on shares of Group 1 Automotive in a research note on Friday, August 7th. UBS Group decreased their target price on Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $380.00 to $320.00 in a report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $360.25.

View Our Latest Report on Group 1 Automotive

Group 1 Automotive Trading Down 4.3%

The business has a 50 day moving average of $279.39 and a 200-day moving average of $306.71. The stock has a market cap of $2.88 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.

Group 1 Automotive (NYSE:GPI – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The company had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the business posted $10.82 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts anticipate that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.20 annualized dividend and a yield of 0.9%. Group 1 Automotive’s payout ratio is presently 9.16%.

Insider Transactions at Group 1 Automotive

In other news, major shareholder Conifer Management, L.L.C. purchased 83,121 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were bought at an average cost of $282.63 per share, with a total value of $23,492,488.23. Following the purchase, the insider directly owned 1,305,481 shares of the company’s stock, valued at approximately $368,968,095.03. This trade represents a 6.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 320,030 shares of company stock valued at $89,461,336. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Group 1 Automotive during the 2nd quarter worth $42,000. Global Retirement Partners LLC grew its position in shares of Group 1 Automotive by 78.5% in the fourth quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock valued at $75,000 after purchasing an additional 84 shares during the period. Anchor Investment Management LLC increased its stake in Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after purchasing an additional 112 shares during the last quarter. Clearstead Advisors LLC lifted its position in Group 1 Automotive by 178.0% during the fourth quarter. Clearstead Advisors LLC now owns 228 shares of the company’s stock worth $90,000 after buying an additional 146 shares during the period. Finally, Allworth Financial LP purchased a new position in Group 1 Automotive during the second quarter worth about $75,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

About Group 1 Automotive

(Get Free Report)

Group 1 Automotive, Inc is an international automotive retailer that operates franchised dealerships in the United States and the United Kingdom. The company sells new and used vehicles from a broad range of manufacturers, including domestic, Asian and European brands.

In addition to vehicle sales, Group 1 Automotive provides automotive maintenance and repair services, sells replacement parts and accessories, and offers financing, insurance and other related products. Its dealerships also support customers through collision-repair operations and online vehicle purchasing tools.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive has expanded through dealership acquisitions and organic growth.

Further Reading

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