Group 1 Automotive (NYSE:GPI) Trading Up 7.1%

Group 1 Automotive, Inc. (NYSE:GPI)’s stock price shot up 7.1% during mid-day trading on Wednesday . The stock traded as high as $304.87 and last traded at $299.37. 73,494 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 136,519 shares. The stock had previously closed at $279.50.

Wall Street Analysts Forecast Growth

GPI has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target on the stock in a research note on Wednesday, April 17th. StockNews.com downgraded Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Morgan Stanley upgraded Group 1 Automotive from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $200.00 to $255.00 in a research note on Thursday, February 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $330.00 price target on shares of Group 1 Automotive in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.67.

Group 1 Automotive Stock Performance

The company has a 50-day moving average of $272.31 and a 200-day moving average of $274.42. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, January 31st. The company reported $9.50 earnings per share for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). Group 1 Automotive had a return on equity of 22.82% and a net margin of 3.23%. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period last year, the company posted $10.86 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts forecast that Group 1 Automotive, Inc. will post 39.37 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.47 dividend. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, February 29th. Group 1 Automotive’s payout ratio is presently 4.44%.

Institutional Trading of Group 1 Automotive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. bought a new position in Group 1 Automotive during the 4th quarter worth $27,000. Parkside Financial Bank & Trust grew its position in shares of Group 1 Automotive by 159.6% during the third quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock worth $33,000 after acquiring an additional 75 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Group 1 Automotive in the 3rd quarter worth about $37,000. Planned Solutions Inc. bought a new stake in Group 1 Automotive in the 4th quarter valued at about $50,000. Finally, Anchor Investment Management LLC acquired a new position in Group 1 Automotive during the 4th quarter valued at about $53,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

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.