Group 1 Automotive (NYSE:GPI) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Group 1 Automotive (NYSE:GPI) from an equal weight rating to an overweight rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have $430.00 price target on the stock, up from their prior price target of $285.00.

Several other analysts have also issued reports on the stock. Bank of America cut their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a buy rating for the company in a research report on Monday, July 22nd. Stephens began coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an equal weight rating and a $394.00 target price for the company. JPMorgan Chase & Co. raised their price target on Group 1 Automotive from $360.00 to $420.00 and gave the stock an overweight rating in a research report on Tuesday, September 10th. Finally, StockNews.com downgraded Group 1 Automotive from a hold rating to a sell rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $396.80.

Group 1 Automotive Price Performance

GPI opened at $385.94 on Wednesday. The stock has a market capitalization of $5.22 billion, a P/E ratio of 9.11, a PEG ratio of 1.94 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. Group 1 Automotive has a 12-month low of $228.84 and a 12-month high of $393.93. The stock has a 50-day moving average price of $356.83 and a 200-day moving average price of $315.54.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, topping the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The firm had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the firm posted $11.73 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Equities analysts predict that Group 1 Automotive will post 39.18 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.47 per share. The ex-dividend date was Friday, August 30th. This represents a $1.88 dividend on an annualized basis and a yield of 0.49%. Group 1 Automotive’s dividend payout ratio is presently 4.44%.

Insiders Place Their Bets

In related news, VP Michael David Jones sold 1,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the sale, the vice president now owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

A number of institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new stake in Group 1 Automotive during the 4th quarter valued at approximately $2,203,000. Hennessy Advisors Inc. lifted its stake in shares of Group 1 Automotive by 14.0% in the 1st quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock valued at $26,856,000 after purchasing an additional 11,300 shares during the period. UniSuper Management Pty Ltd bought a new stake in shares of Group 1 Automotive during the first quarter valued at approximately $887,000. Wells Fargo & Company MN grew its stake in Group 1 Automotive by 21.6% in the fourth quarter. Wells Fargo & Company MN now owns 30,845 shares of the company’s stock worth $9,400,000 after purchasing an additional 5,472 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Group 1 Automotive by 15.2% in the first quarter. BNP Paribas Financial Markets now owns 22,236 shares of the company’s stock worth $6,498,000 after purchasing an additional 2,927 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

About Group 1 Automotive

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.