Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $420.00 to $495.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Group 1 Automotive traded as high as $490.09 and last traded at $486.70, with a volume of 13055 shares trading hands. The stock had previously closed at $484.08.
A number of other analysts have also weighed in on the stock. 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 report on Thursday, November 21st. StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Stephens reiterated an "equal weight" rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. Finally, Jefferies Financial Group began coverage on Group 1 Automotive in a research note on Friday, December 13th. They set a "buy" rating and a $500.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive currently has an average rating of "Moderate Buy" and a consensus target price of $460.33.
Check Out Our Latest Stock Report on GPI
Insider Transactions at Group 1 Automotive
In other Group 1 Automotive 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 transaction of $2,560,080.00. Following the completion of the sale, the director now owns 98,467 shares of the company's stock, valued at $42,013,899.56. The trade was a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company's stock.
Hedge Funds Weigh In On Group 1 Automotive
Large investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in Group 1 Automotive by 119.4% in the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after buying an additional 37 shares in the last quarter. R Squared Ltd bought a new stake in shares of Group 1 Automotive in the 4th quarter worth approximately $30,000. Assetmark Inc. boosted its stake in shares of Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company's stock valued at $31,000 after purchasing an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Group 1 Automotive during the 3rd quarter valued at $36,000. Finally, Avior Wealth Management LLC purchased a new position in Group 1 Automotive in the 3rd quarter worth $46,000. 99.92% of the stock is owned by hedge funds and other institutional investors.
Group 1 Automotive Stock Performance
The business's 50-day moving average is $440.33 and its 200 day moving average is $398.79. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The company has a market cap of $6.37 billion, a PE ratio of 13.02 and a beta of 1.36.
Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 EPS for the quarter, topping 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%. On average, equities research analysts predict that Group 1 Automotive, Inc. will post 40.86 EPS for the current fiscal year.
Group 1 Automotive Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.50 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.00 annualized dividend and a yield of 0.42%. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.47. Group 1 Automotive's payout ratio is presently 5.12%.
Group 1 Automotive declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.
About Group 1 Automotive
(
Get Free Report)
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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