Brokerages Set Group 1 Automotive, Inc. (NYSE:GPI) PT at $437.67

Group 1 Automotive, Inc. (NYSE:GPI) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $436.83.

GPI has been the topic of a number of recent research reports. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Guggenheim increased their price target on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. lowered their price objective on Group 1 Automotive from $425.00 to $420.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group began coverage on Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 target price for the company.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $447.84 on Monday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 11.93 and a beta of 1.36. The business has a 50 day simple moving average of $422.96 and a two-hundred day simple moving average of $376.85. Group 1 Automotive has a 12 month low of $255.73 and a 12 month high of $449.58. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm posted $12.07 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts predict that Group 1 Automotive will post 38.36 EPS for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is presently 5.01%.

Insider Buying and Selling at Group 1 Automotive

In other news, Director Lincoln Pereira sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $426.68, for a total value of $2,560,080.00. Following the sale, the director now directly owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. The trade was a 5.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at $2,340,928.59. The trade was a 1.25 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Group 1 Automotive

Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC purchased a new stake in Group 1 Automotive during the second quarter worth about $231,000. Victory Capital Management Inc. increased its stake in Group 1 Automotive by 12.9% during the 2nd quarter. Victory Capital Management Inc. now owns 32,682 shares of the company’s stock worth $9,716,000 after buying an additional 3,734 shares during the period. Choreo LLC purchased a new stake in Group 1 Automotive during the 2nd quarter worth approximately $228,000. Headlands Technologies LLC acquired a new stake in Group 1 Automotive during the 2nd quarter worth approximately $48,000. Finally, American Century Companies Inc. boosted its position in Group 1 Automotive by 35.0% in the 2nd quarter. American Century Companies Inc. now owns 1,654 shares of the company’s stock valued at $492,000 after buying an additional 429 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, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.