Group 1 Automotive, Inc. (GPI) Downgraded by Buckingham Research
Buckingham Research cut shares of Group 1 Automotive, Inc. (NYSE:GPI) from a buy rating to a neutral rating in a research report released on Monday morning, MarketBeat reports. They currently have $86.00 target price on the stock.
Other analysts have also recently issued reports about the company. ValuEngine cut Group 1 Automotive from a strong-buy rating to a buy rating in a research note on Monday, July 24th. TheStreet cut Group 1 Automotive from a b- rating to a c+ rating in a research note on Thursday, August 17th. Stephens reaffirmed an equal weight rating and issued a $87.00 price target (up from $83.00) on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Zacks Investment Research raised Group 1 Automotive from a sell rating to a hold rating in a research note on Thursday, October 26th. Finally, KeyCorp reaffirmed a hold rating on shares of Group 1 Automotive in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Group 1 Automotive currently has a consensus rating of Hold and an average price target of $79.00.
Shares of Group 1 Automotive (GPI) traded down $0.42 during trading hours on Monday, reaching $77.26. The company’s stock had a trading volume of 311,200 shares, compared to its average volume of 263,859. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.05 and a quick ratio of 0.27. The company has a market cap of $1,620.33, a PE ratio of 10.54, a P/E/G ratio of 1.50 and a beta of 1.69. Group 1 Automotive has a 12-month low of $51.62 and a 12-month high of $83.18.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, October 26th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.47. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. Group 1 Automotive’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.96 EPS. sell-side analysts expect that Group 1 Automotive will post 7.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.25 dividend. The ex-dividend date is Thursday, November 30th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Group 1 Automotive’s payout ratio is currently 15.26%.
In related news, CFO John C. Rickel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $66.99, for a total value of $669,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daryl Kenningham sold 6,700 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $78.68, for a total value of $527,156.00. Following the completion of the transaction, the insider now owns 42,130 shares of the company’s stock, valued at $3,314,788.40. The disclosure for this sale can be found here. Insiders sold a total of 66,694 shares of company stock valued at $5,189,106 over the last quarter. 6.08% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of GPI. FMR LLC acquired a new position in shares of Group 1 Automotive in the 1st quarter valued at approximately $1,485,000. Teachers Advisors LLC boosted its position in Group 1 Automotive by 2.7% during the 1st quarter. Teachers Advisors LLC now owns 36,749 shares of the company’s stock worth $2,722,000 after acquiring an additional 983 shares during the last quarter. Vanguard Group Inc. boosted its position in Group 1 Automotive by 25.5% during the 1st quarter. Vanguard Group Inc. now owns 2,153,519 shares of the company’s stock worth $159,532,000 after acquiring an additional 437,387 shares during the last quarter. Geode Capital Management LLC boosted its position in Group 1 Automotive by 25.5% during the 1st quarter. Geode Capital Management LLC now owns 184,179 shares of the company’s stock worth $13,643,000 after acquiring an additional 37,412 shares during the last quarter. Finally, Morgan Stanley boosted its position in Group 1 Automotive by 17.5% during the 1st quarter. Morgan Stanley now owns 206,874 shares of the company’s stock worth $15,325,000 after acquiring an additional 30,820 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.
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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