Shares of Group 1 Automotive, Inc. (NYSE:GPI) have earned an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $77.40.
A number of research firms have recently weighed in on GPI. ValuEngine upgraded shares of Group 1 Automotive from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research restated a “buy” rating and issued a $56.00 price target on shares of Group 1 Automotive in a research note on Monday, December 31st. Morgan Stanley upgraded shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and set a $61.00 price target on the stock in a research note on Wednesday, November 14th. Buckingham Research upgraded shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, October 29th. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a research note on Thursday, October 18th.
Shares of GPI traded up $1.00 during mid-day trading on Friday, reaching $59.92. The company had a trading volume of 143,378 shares, compared to its average volume of 184,685. Group 1 Automotive has a 1-year low of $48.69 and a 1-year high of $83.97. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 1.14. The company has a market cap of $1.14 billion, a P/E ratio of 7.75, a PEG ratio of 1.64 and a beta of 1.82.
Group 1 Automotive announced that its board has approved a stock repurchase program on Thursday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were given a dividend of $0.26 per share. The ex-dividend date was Friday, November 30th. This represents a $1.04 annualized dividend and a yield of 1.74%. Group 1 Automotive’s dividend payout ratio is presently 13.45%.
A number of large investors have recently bought and sold shares of GPI. First Trust Advisors LP boosted its position in Group 1 Automotive by 13.4% during the 2nd quarter. First Trust Advisors LP now owns 37,322 shares of the company’s stock worth $2,351,000 after buying an additional 4,414 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Group 1 Automotive in the 2nd quarter worth approximately $262,000. Rhumbline Advisers lifted its position in shares of Group 1 Automotive by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 51,977 shares of the company’s stock worth $3,275,000 after purchasing an additional 759 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Group 1 Automotive by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 389,327 shares of the company’s stock worth $24,527,000 after purchasing an additional 1,416 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Group 1 Automotive by 119.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,918 shares of the company’s stock worth $562,000 after purchasing an additional 4,858 shares during the period. Institutional investors and hedge funds own 99.86% of the company’s stock.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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