Group 1 Automotive (GPI) Upgraded to “Buy” by Buckingham Research

Group 1 Automotive (NYSE:GPI) was upgraded by research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a research report issued on Friday, January 5th. The brokerage currently has a $89.00 price objective on the stock. Buckingham Research’s price objective indicates a potential upside of 10.42% from the stock’s previous close.

GPI has been the subject of several other research reports. KeyCorp reiterated a “hold” rating on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Zacks Investment Research cut Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Berenberg Bank assumed coverage on Group 1 Automotive in a research report on Wednesday, October 4th. They set a “hold” rating and a $77.00 price objective for the company. Goldman Sachs Group raised Group 1 Automotive from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $67.00 in a research report on Thursday, September 7th. Finally, Stephens reissued an “equal weight” rating and set a $87.00 price objective (up previously from $83.00) on shares of Group 1 Automotive in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $79.50.

Group 1 Automotive (NYSE:GPI) traded up $2.19 on Friday, hitting $80.60. The stock had a trading volume of 187,300 shares, compared to its average volume of 251,288. The company has a market cap of $1,680.00, a P/E ratio of 12.73, a PEG ratio of 1.42 and a beta of 1.69. Group 1 Automotive has a 52 week low of $51.62 and a 52 week high of $84.47. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.27 and a current ratio of 1.05.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, October 26th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.47. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 EPS. research analysts predict that Group 1 Automotive will post 7.44 EPS for the current year.

In other news, CEO Earl J. Hesterberg sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $72.15, for a total value of $288,600.00. Following the completion of the transaction, the chief executive officer now directly owns 139,065 shares of the company’s stock, valued at approximately $10,033,539.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Earl J. Hesterberg sold 2,000 shares of the stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $72.38, for a total value of $144,760.00. Following the completion of the transaction, the chief executive officer now directly owns 139,065 shares of the company’s stock, valued at $10,065,524.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,573 shares of company stock valued at $12,034,832. Insiders own 6.08% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Group 1 Automotive by 17.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,797 shares of the company’s stock worth $114,000 after acquiring an additional 271 shares during the last quarter. Teachers Advisors LLC grew its position in Group 1 Automotive by 1.3% during the 2nd quarter. Teachers Advisors LLC now owns 37,238 shares of the company’s stock worth $2,358,000 after acquiring an additional 489 shares during the last quarter. California Public Employees Retirement System grew its position in Group 1 Automotive by 0.9% during the 2nd quarter. California Public Employees Retirement System now owns 56,300 shares of the company’s stock worth $3,565,000 after acquiring an additional 500 shares during the last quarter. Nordea Investment Management AB grew its position in Group 1 Automotive by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 71,800 shares of the company’s stock worth $4,546,000 after acquiring an additional 600 shares during the last quarter. Finally, Chicago Equity Partners LLC grew its position in Group 1 Automotive by 8.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 8,340 shares of the company’s stock worth $604,000 after acquiring an additional 650 shares during the last quarter. 97.57% of the stock is owned by institutional investors and hedge funds.

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Group 1 Automotive Company Profile

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.

Analyst Recommendations for Group 1 Automotive (NYSE:GPI)

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