Group 1 Automotive (NYSE:GPI) has been assigned a $55.00 target price by Morgan Stanley in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 7.83% from the stock’s previous close.
Several other equities analysts also recently commented on the stock. Buckingham Research raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, October 29th. They noted that the move was a valuation call. TheStreet downgraded shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a research report on Thursday, October 18th. ValuEngine raised shares of Group 1 Automotive from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 10th. Zacks Investment Research raised shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, December 5th. Finally, Seaport Global Securities initiated coverage on shares of Group 1 Automotive in a research report on Wednesday. They set a “buy” rating on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $72.00.
Group 1 Automotive stock opened at $59.67 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.23 and a current ratio of 1.01. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.80. Group 1 Automotive has a one year low of $48.69 and a one year high of $81.16.
Group 1 Automotive announced that its board has initiated a share buyback plan on Thursday, October 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the business. Rafferty Asset Management LLC bought a new stake in Group 1 Automotive during the third quarter valued at about $256,000. Stone Ridge Asset Management LLC bought a new stake in Group 1 Automotive during the third quarter valued at about $277,000. AlphaCrest Capital Management LLC bought a new stake in Group 1 Automotive during the fourth quarter valued at about $258,000. Waratah Capital Advisors Ltd. bought a new stake in Group 1 Automotive during the third quarter valued at about $325,000. Finally, Algert Global LLC bought a new stake in Group 1 Automotive during the third quarter valued at about $357,000. Institutional investors own 99.86% of the company’s stock.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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