Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $471.69 and last traded at $471.97, with a volume of 43326 shares trading hands. The stock had previously closed at $458.32.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Stephens reaffirmed an "equal weight" rating and issued a $460.00 price target on shares of Group 1 Automotive in a report on Thursday, January 30th. Guggenheim upped their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock 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 report on Friday, November 8th. Jefferies Financial Group initiated coverage on Group 1 Automotive in a report on Friday, December 13th. They set a "buy" rating and a $500.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Group 1 Automotive from $425.00 to $420.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Group 1 Automotive presently has a consensus rating of "Moderate Buy" and an average target price of $447.83.
Get Our Latest Report on Group 1 Automotive
Group 1 Automotive Trading Down 0.4 %
The business has a 50 day simple moving average of $434.83 and a 200-day simple moving average of $393.34. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.80 and a beta of 1.36. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.25% and a net margin of 2.47%. As a group, equities analysts expect that Group 1 Automotive, Inc. will post 40.86 earnings per share for the current year.
Group 1 Automotive Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 2nd. Group 1 Automotive's payout ratio is 5.12%.
Group 1 Automotive announced that its board has initiated a share buyback plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
Insider Transactions at Group 1 Automotive
In related news, Director Lincoln Pereira sold 6,000 shares of Group 1 Automotive stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $426.68, for a total value of $2,560,080.00. Following the sale, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Group 1 Automotive in the fourth quarter valued at $30,000. Assetmark Inc. lifted its stake in Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company's stock valued at $31,000 after acquiring an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Group 1 Automotive in the 3rd quarter valued at about $36,000. Avior Wealth Management LLC acquired a new position in shares of Group 1 Automotive during the 3rd quarter worth about $46,000. Finally, GAMMA Investing LLC raised its holdings in shares of Group 1 Automotive by 70.4% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the company's stock valued at $51,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 99.92% of the company's stock.
About Group 1 Automotive
(
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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.
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