Group 1 Automotive (NYSE:GPI – Get Free Report) had its target price increased by equities research analysts at Morgan Stanley from $232.00 to $250.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley‘s price objective suggests a potential downside of 6.29% from the company’s current price.
Several other equities analysts have also commented on the company. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. downgraded Group 1 Automotive from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $255.00 to $250.00 in a research report on Wednesday, November 4th. Jefferies Financial Group set a $250.00 price objective on shares of Group 1 Automotive in a report on Wednesday, November 4th. Weiss Ratings raised shares of Group 1 Automotive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 30th. Finally, Barclays lowered their target price on shares of Group 1 Automotive from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $330.10.
Read Our Latest Stock Report on Group 1 Automotive
Group 1 Automotive Trading Up 2.1%
Shares of GPI stock traded up $5.42 during trading on Monday, hitting $266.77. 29,794 shares of the stock traded hands, compared to its average volume of 201,056. The firm has a market capitalization of $3.19 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 0.57. The firm’s fifty day moving average price is $255.14 and its 200-day moving average price is $304.18. Group 1 Automotive has a 52-week low of $224.65 and a 52-week high of $429.00.
Group 1 Automotive (NYSE:GPI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $9.36 earnings per share for the quarter, missing the consensus estimate of $9.50 by ($0.14). The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Group 1 Automotive had a return on equity of 14.91% and a net margin of 1.75%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.45 earnings per share. As a group, research analysts forecast that Group 1 Automotive will post 37.40 earnings per share for the current fiscal year.
Insider Activity at Group 1 Automotive
In other news, major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the stock in a transaction dated Monday, September 28th. The stock was acquired at an average cost of $243.58 per share, for a total transaction of $32,511,109.76. Following the completion of the transaction, the insider directly owned 1,772,050 shares in the company, valued at approximately $431,635,939. This represents a 8.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired 820,030 shares of company stock worth $211,496,571 in the last ninety days. Company insiders own 2.40% of the company’s stock.
Hedge Funds Weigh In On Group 1 Automotive
Several hedge funds have recently bought and sold shares of GPI. Corient Private Wealth LP grew its position in Group 1 Automotive by 6.2% in the 2nd quarter. Corient Private Wealth LP now owns 702 shares of the company’s stock valued at $204,000 after acquiring an additional 41 shares in the last quarter. Bessemer Group Inc. increased its stake in Group 1 Automotive by 0.9% during the first quarter. Bessemer Group Inc. now owns 7,734 shares of the company’s stock worth $2,556,000 after purchasing an additional 70 shares during the period. Salomon & Ludwin LLC lifted its position in shares of Group 1 Automotive by 445.8% during the third quarter. Salomon & Ludwin LLC now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 107 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of Group 1 Automotive by 112.0% during the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock worth $62,000 after purchasing an additional 112 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Group 1 Automotive by 63.7% in the second quarter. Versant Capital Management Inc now owns 370 shares of the company’s stock valued at $108,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. Founded in 1997, the company operates franchised dealerships and collision centers in the United States and the United Kingdom.
Its dealerships sell new and used vehicles from a range of manufacturers and provide related services, including vehicle maintenance and repair, parts sales, collision repair, and automotive financing and insurance products.
Group 1’s business also includes manufacturer-authorized service operations and parts departments that support customers throughout vehicle ownership.
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