Group 1 Automotive (NYSE:GPI) had its price objective raised by Morgan Stanley from $55.00 to $67.00 in a report published on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other analysts have also weighed in on the stock. Goldman Sachs Group raised shares of Group 1 Automotive from a neutral rating to a buy rating and raised their price target for the company from $67.00 to $77.00 in a report on Monday, March 4th. Seaport Global Securities started coverage on shares of Group 1 Automotive in a research note on Wednesday, February 13th. They issued a buy rating on the stock. They noted that the move was a valuation call. ValuEngine cut shares of Group 1 Automotive from a sell rating to a strong sell rating in a research note on Friday, February 8th. JPMorgan Chase & Co. started coverage on shares of Group 1 Automotive in a research note on Tuesday, February 19th. They issued an overweight rating and a $77.00 price objective on the stock. Finally, TheStreet raised shares of Group 1 Automotive from a c+ rating to a b- rating in a research note on Thursday, January 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Group 1 Automotive currently has an average rating of Buy and a consensus price target of $77.33.
Shares of Group 1 Automotive stock opened at $72.16 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 0.23. The company has a market capitalization of $1.33 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.88 and a beta of 1.78. Group 1 Automotive has a fifty-two week low of $48.69 and a fifty-two week high of $81.16.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.03. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.83 billion. Group 1 Automotive had a net margin of 1.36% and a return on equity of 15.31%. Group 1 Automotive’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. Equities analysts predict that Group 1 Automotive will post 9.13 earnings per share for the current fiscal year.
Group 1 Automotive declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 21st that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
A number of hedge funds have recently made changes to their positions in the business. LSV Asset Management boosted its position in shares of Group 1 Automotive by 9.9% during the fourth quarter. LSV Asset Management now owns 883,994 shares of the company’s stock worth $46,604,000 after purchasing an additional 79,950 shares in the last quarter. Towle & Co. increased its stake in Group 1 Automotive by 48.3% in the 4th quarter. Towle & Co. now owns 591,517 shares of the company’s stock valued at $31,185,000 after buying an additional 192,628 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Group 1 Automotive by 6.8% in the 4th quarter. Bank of New York Mellon Corp now owns 421,274 shares of the company’s stock valued at $22,209,000 after buying an additional 26,898 shares during the last quarter. Investment Counselors of Maryland LLC increased its stake in Group 1 Automotive by 100.8% in the 4th quarter. Investment Counselors of Maryland LLC now owns 371,162 shares of the company’s stock valued at $19,568,000 after buying an additional 186,312 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Group 1 Automotive in the 3rd quarter valued at $23,804,000. 99.93% of the stock is currently owned by hedge funds and other institutional investors.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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