Group 1 Automotive (NYSE:GPI) Given New $442.00 Price Target at Guggenheim

Group 1 Automotive (NYSE:GPI) had its price objective hoisted by Guggenheim from $420.00 to $442.00 in a research report released on Thursday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities analysts also recently commented on GPI. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Stephens began coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $425.20.

Group 1 Automotive Trading Up 3.1 %

Shares of NYSE:GPI opened at $421.14 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The company’s 50-day moving average price is $377.50 and its two-hundred day moving average price is $342.90. The stock has a market capitalization of $5.61 billion, a PE ratio of 11.22 and a beta of 1.33. Group 1 Automotive has a one year low of $255.73 and a one year high of $422.92.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $12.07 EPS. Group 1 Automotive’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Group 1 Automotive will post 38.37 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.45%. Group 1 Automotive’s payout ratio is 5.01%.

Group 1 Automotive announced that its Board of Directors has authorized a share buyback program on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the sale, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Assetmark Inc. raised its stake in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after purchasing an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Group 1 Automotive in the third quarter valued at $36,000. Hexagon Capital Partners LLC lifted its holdings in Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after purchasing an additional 51 shares during the last quarter. Avior Wealth Management LLC purchased a new position in Group 1 Automotive in the 3rd quarter valued at approximately $46,000. Finally, Headlands Technologies LLC purchased a new position in shares of Group 1 Automotive in the second quarter valued at $48,000. 99.92% of the stock is owned by 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.