Group 1 Automotive (NYSE:GPI) Sets New 52-Week High Following Analyst Upgrade

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after Guggenheim raised their price target on the stock from $420.00 to $442.00. Guggenheim currently has a buy rating on the stock. Group 1 Automotive traded as high as $422.92 and last traded at $420.76, with a volume of 37689 shares. The stock had previously closed at $408.66.

GPI has been the subject of several other reports. Morgan Stanley upgraded shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Stephens assumed coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 price objective on the stock. Finally, StockNews.com raised Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $425.20.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Group 1 Automotive

Hedge funds have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC bought a new position in Group 1 Automotive during the 2nd quarter valued at $452,000. The Manufacturers Life Insurance Company lifted its position in shares of Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company's stock worth $190,004,000 after purchasing an additional 115,143 shares during the last quarter. Raymond James & Associates grew its stake in Group 1 Automotive by 8.3% in the second quarter. Raymond James & Associates now owns 40,541 shares of the company's stock worth $12,052,000 after purchasing an additional 3,095 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Group 1 Automotive in the third quarter valued at about $3,286,000. Finally, Susquehanna Fundamental Investments LLC raised its stake in Group 1 Automotive by 327.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company's stock valued at $4,596,000 after buying an additional 11,839 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Group 1 Automotive Trading Up 3.1 %

The company has a market cap of $5.61 billion, a P/E ratio of 11.22 and a beta of 1.33. The business has a fifty day simple moving average of $377.50 and a 200 day simple moving average of $342.27. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to analysts' expectations of $5.06 billion. During the same period last year, the business posted $12.07 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Analysts anticipate that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.01%.

Group 1 Automotive announced that its board has authorized a stock repurchase program on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 9.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Group 1 Automotive Company Profile

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.