Group 1 Automotive (NYSE:GPI) Downgraded by StockNews.com

StockNews.com downgraded shares of Group 1 Automotive (NYSE:GPI) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other brokerages have also recently issued reports on GPI. Stephens started coverage on 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. JPMorgan Chase & Co. lifted their price target on Group 1 Automotive from $360.00 to $420.00 and gave the stock an overweight rating in a report on Tuesday, September 10th. Bank of America reduced their price objective on Group 1 Automotive from $445.00 to $435.00 and set a buy rating for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley upgraded Group 1 Automotive from an equal weight rating to an overweight rating and lifted their target price for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $396.80.

Group 1 Automotive Trading Up 1.3 %

NYSE:GPI opened at $368.71 on Friday. Group 1 Automotive has a 52 week low of $228.84 and a 52 week high of $393.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02. The firm’s fifty day moving average is $361.99 and its 200-day moving average is $319.98. The firm has a market cap of $4.99 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.94 and a beta of 1.32.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, beating the consensus estimate of $9.36 by $0.44. The company had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.68 billion. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. Group 1 Automotive’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.73 EPS. Equities analysts expect that Group 1 Automotive will post 39.18 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the transaction, the vice president now owns 9,742 shares in the company, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in shares of Group 1 Automotive by 22.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares during the period. Woodson Capital Management LP lifted its holdings in Group 1 Automotive by 114.6% in the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after acquiring an additional 76,102 shares during the period. Wellington Management Group LLP purchased a new position in shares of Group 1 Automotive in the fourth quarter worth approximately $21,296,000. Intrinsic Edge Capital Management LLC grew its position in Group 1 Automotive by 66.4% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 84,968 shares of the company’s stock valued at $25,893,000 after buying an additional 33,901 shares during the period. Finally, Shellback Capital LP raised its position in Group 1 Automotive by 27.1% in the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after acquiring an additional 20,302 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

About Group 1 Automotive

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.