Stephens Reaffirms Equal Weight Rating for Group 1 Automotive (NYSE:GPI)

Group 1 Automotive (NYSE:GPIGet Free Report)‘s stock had its “equal weight” rating reissued by research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $460.00 price target on the stock. Stephens’ target price would indicate a potential downside of 0.85% from the company’s previous close.

A number of other research analysts also recently commented on GPI. Guggenheim raised their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group began coverage on Group 1 Automotive in a report on Friday, December 13th. They set a “buy” rating and a $500.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on Group 1 Automotive from $425.00 to $420.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $447.83.

Check Out Our Latest Stock Analysis on GPI

Group 1 Automotive Trading Up 3.2 %

Shares of Group 1 Automotive stock traded up $14.52 on Thursday, hitting $463.97. 10,556 shares of the company traded hands, compared to its average volume of 117,636. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The company has a market cap of $6.18 billion, a PE ratio of 12.36 and a beta of 1.36. The stock’s 50 day moving average price is $429.57 and its 200-day moving average price is $385.25. Group 1 Automotive has a 52 week low of $255.73 and a 52 week high of $471.28.

Group 1 Automotive (NYSE:GPIGet Free Report) last issued its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, beating analysts’ consensus estimates of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Equities research analysts predict that Group 1 Automotive will post 38.29 EPS for the current year.

Group 1 Automotive declared that its board has initiated a share buyback program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 9.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lincoln Pereira sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the transaction, the director now owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors and hedge funds have recently modified their holdings of GPI. State Street Corp boosted its position in Group 1 Automotive by 2.1% during the third quarter. State Street Corp now owns 541,766 shares of the company’s stock worth $207,518,000 after purchasing an additional 10,969 shares in the last quarter. FMR LLC lifted its position in shares of Group 1 Automotive by 133.0% during the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock valued at $156,253,000 after buying an additional 232,846 shares in the last quarter. Geode Capital Management LLC grew its stake in Group 1 Automotive by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock valued at $117,080,000 after acquiring an additional 1,985 shares during the period. Franklin Resources Inc. increased its holdings in Group 1 Automotive by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 156,627 shares of the company’s stock worth $55,701,000 after acquiring an additional 3,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Group 1 Automotive by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 152,923 shares of the company’s stock worth $58,576,000 after acquiring an additional 1,735 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

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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.

Further Reading

Analyst Recommendations for Group 1 Automotive (NYSE:GPI)

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