Group 1 Automotive (NYSE:GPI) had its price objective boosted by Morgan Stanley from $53.00 to $62.00 in a research note issued to investors on Wednesday morning. Morgan Stanley currently has an underweight rating on the stock.
A number of other research firms have also recently commented on GPI. Zacks Investment Research upgraded shares of Group 1 Automotive from a hold rating to a strong-buy rating and set a $92.00 target price for the company in a research note on Wednesday, January 31st. Bank of America lifted their target price on shares of Group 1 Automotive from $103.00 to $105.00 and gave the stock a buy rating in a research note on Friday, February 9th. Finally, Buckingham Research upgraded shares of Group 1 Automotive from a neutral rating to a buy rating and set a $89.00 price objective for the company in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $83.00.
Group 1 Automotive (GPI) traded down $0.35 during midday trading on Wednesday, reaching $73.70. 2,252 shares of the company’s stock were exchanged, compared to its average volume of 229,133. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1,562.72, a P/E ratio of 7.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.75. Group 1 Automotive has a 1-year low of $51.62 and a 1-year high of $84.47.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.26 per share. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, February 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.41%. Group 1 Automotive’s dividend payout ratio is presently 10.28%.
In related news, CEO Earl J. Hesterberg sold 2,000 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $72.38, for a total value of $144,760.00. Following the completion of the sale, the chief executive officer now owns 139,065 shares of the company’s stock, valued at $10,065,524.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Earl J. Hesterberg sold 19,500 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $74.69, for a total transaction of $1,456,455.00. Following the completion of the sale, the chief executive officer now directly owns 156,316 shares of the company’s stock, valued at approximately $11,675,242.04. The disclosure for this sale can be found here. Insiders sold 152,398 shares of company stock valued at $11,763,108 in the last three months. 6.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its position in Group 1 Automotive by 42.9% in the third quarter. First Trust Advisors LP now owns 32,158 shares of the company’s stock valued at $2,330,000 after buying an additional 9,647 shares during the last quarter. FCA Corp TX acquired a new position in Group 1 Automotive in the third quarter valued at about $290,000. Davidson Kempner Capital Management LP acquired a new position in Group 1 Automotive in the third quarter valued at about $13,115,000. Nordea Investment Management AB lifted its position in Group 1 Automotive by 2.8% in the third quarter. Nordea Investment Management AB now owns 73,800 shares of the company’s stock valued at $5,348,000 after buying an additional 2,000 shares during the last quarter. Finally, OxFORD Asset Management LLP lifted its position in shares of Group 1 Automotive by 174.8% during the third quarter. OxFORD Asset Management LLP now owns 18,334 shares of the company’s stock worth $1,304,000 after purchasing an additional 11,663 shares in the last quarter. 97.57% of the stock is currently owned by institutional investors.
About Group 1 Automotive
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.
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