Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $365.77 and traded as high as $427.85. Group 1 Automotive shares last traded at $416.25, with a volume of 113,590 shares traded.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on GPI shares. Morgan Stanley upgraded Group 1 Automotive from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a "buy" rating and a $500.00 price objective for the company. Stephens initiated coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 target price on the stock. StockNews.com raised shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $437.67.
Check Out Our Latest Report on Group 1 Automotive
Group 1 Automotive Stock Performance
The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 11.15 and a beta of 1.35. The stock's 50-day simple moving average is $412.23 and its 200 day simple moving average is $366.52. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91.
Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping analysts' consensus estimates of $9.87 by $0.03. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $12.07 EPS. Analysts expect that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.
Group 1 Automotive Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.45%. Group 1 Automotive's dividend payout ratio (DPR) is 5.01%.
Group 1 Automotive announced that its board has authorized a stock repurchase plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the sale, the vice president now directly owns 6,259 shares of the company's stock, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lincoln Pereira sold 6,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $426.68, for a total value of $2,560,080.00. Following the transaction, the director now directly owns 98,467 shares in the company, valued at $42,013,899.56. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC acquired a new position in Group 1 Automotive in the second quarter valued at approximately $231,000. Victory Capital Management Inc. boosted its position in shares of Group 1 Automotive by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 32,682 shares of the company's stock worth $9,716,000 after purchasing an additional 3,734 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Group 1 Automotive by 0.9% during the second quarter. Arizona State Retirement System now owns 3,832 shares of the company's stock worth $1,139,000 after purchasing an additional 33 shares during the period. Foundry Partners LLC increased its holdings in Group 1 Automotive by 5.3% in the second quarter. Foundry Partners LLC now owns 28,233 shares of the company's stock valued at $8,393,000 after purchasing an additional 1,425 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in Group 1 Automotive by 12.4% in the second quarter. Quest Partners LLC now owns 6,717 shares of the company's stock valued at $1,997,000 after buying an additional 742 shares during the period. Institutional investors own 99.92% of the company's stock.
Group 1 Automotive Company Profile
(
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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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