Group 1 Automotive (NYSE:GPI) Reaches New 12-Month High – Here’s What Happened

Group 1 Automotive, Inc. (NYSE:GPI) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $416.35 and last traded at $416.14, with a volume of 1969 shares changing hands. The stock had previously closed at $412.67.

Analyst Upgrades and Downgrades

A number of research firms have commented on GPI. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday. Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Bank of America reduced their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Group 1 Automotive currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.80.

Group 1 Automotive Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.26 and a debt-to-equity ratio of 0.91. The company has a market cap of $5.45 billion, a PE ratio of 11.00, a P/E/G ratio of 2.07 and a beta of 1.33. The firm has a 50 day moving average of $367.93 and a two-hundred day moving average of $335.76.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $12.07 EPS. Research analysts predict that Group 1 Automotive, Inc. will post 38.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now owns 9,742 shares in the company, valued at $3,419,344.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares in the company, valued at approximately $3,419,344.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Edward Mckissic sold 79 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds and other institutional investors have recently modified their holdings of GPI. The Manufacturers Life Insurance Company lifted 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 valued at $190,004,000 after buying an additional 115,143 shares during the period. Woodson Capital Management LP lifted its holdings in shares of Group 1 Automotive by 114.6% during the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after buying an additional 76,102 shares during the period. Thrivent Financial for Lutherans raised its holdings in Group 1 Automotive by 596.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock worth $29,259,000 after purchasing an additional 65,414 shares during the period. Assenagon Asset Management S.A. raised its holdings in Group 1 Automotive by 57.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after purchasing an additional 23,051 shares during the period. Finally, Shellback Capital LP raised its holdings in Group 1 Automotive by 27.1% in the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after purchasing an additional 20,302 shares during the period. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Company Profile

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.