Zacks Investment Research upgraded shares of Group 1 Automotive, Inc. (NYSE:GPI) from a sell rating to a hold rating in a research note issued to investors on Tuesday, October 17th.
According to Zacks, “Group 1 Automotive is poised to benefit from its frequent acquisitions and divestments of dealerships and franchises in order to expand its business. Moreover, its financial position is improving with higher cash balance, which the company uses to pursue its capital deployment strategies. These capital deployments will boost shareholders’ confidence in Group 1 Automotive. However, a weak energy market and a decline in new vehicle unit sales are few headwinds for the company. Also, in the last six months, its shares have underperformed against the industry it belongs to.”
A number of other research firms also recently commented on GPI. TheStreet downgraded shares of Group 1 Automotive from a b- rating to a c+ rating in a research note on Thursday, August 17th. Stephens reiterated an equal weight rating and issued a $87.00 target price (up from $83.00) on shares of Group 1 Automotive in a research note on Wednesday, October 4th. BidaskClub downgraded shares of Group 1 Automotive from a hold rating to a sell rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) raised shares of Group 1 Automotive from a sell rating to a neutral rating and increased their price target for the company from $56.00 to $67.00 in a report on Thursday, September 7th. Finally, Berenberg Bank initiated coverage on shares of Group 1 Automotive in a report on Wednesday, October 4th. They issued a hold rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Group 1 Automotive has a consensus rating of Hold and an average target price of $77.60.
Group 1 Automotive (NYSE:GPI) traded up $0.70 on Tuesday, hitting $81.06. 117,748 shares of the company were exchanged, compared to its average volume of 293,829. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.27 and a current ratio of 1.05. The firm has a market cap of $1,676.23, a P/E ratio of 10.90, a PEG ratio of 1.58 and a beta of 1.69.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, October 26th. The company reported $2.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.47. Group 1 Automotive had a net margin of 1.20% and a return on equity of 15.69%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the business earned $1.96 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. research analysts anticipate that Group 1 Automotive will post 7.25 EPS for the current year.
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In related news, CFO John C. Rickel sold 10,000 shares of Group 1 Automotive stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $66.99, for a total transaction of $669,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daryl Kenningham sold 6,700 shares of Group 1 Automotive stock in a transaction on Monday, October 30th. The stock was sold at an average price of $78.68, for a total transaction of $527,156.00. Following the transaction, the insider now directly owns 42,130 shares of the company’s stock, valued at approximately $3,314,788.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,700 shares of company stock worth $4,387,156. 6.08% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of GPI. Victory Capital Management Inc. purchased a new position in Group 1 Automotive during the first quarter worth about $113,000. Riverhead Capital Management LLC boosted its holdings in Group 1 Automotive by 93.2% during the second quarter. Riverhead Capital Management LLC now owns 1,932 shares of the company’s stock worth $122,000 after purchasing an additional 932 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Group 1 Automotive during the first quarter worth about $133,000. Invictus RG boosted its holdings in Group 1 Automotive by 435.1% during the first quarter. Invictus RG now owns 2,226 shares of the company’s stock worth $165,000 after purchasing an additional 1,810 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Group 1 Automotive during the second quarter worth about $177,000. 97.67% of the stock is owned by institutional investors.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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