ValuEngine upgraded shares of Group 1 Automotive (NYSE:GPI) from a sell rating to a hold rating in a research report released on Monday morning.
Several other research analysts have also weighed in on GPI. Stephens reaffirmed a hold rating and issued a $88.00 target price on shares of Group 1 Automotive in a research report on Monday, April 16th. Guggenheim initiated coverage on Group 1 Automotive in a research report on Monday, April 16th. They issued a neutral rating on the stock. Zacks Investment Research raised Group 1 Automotive from a hold rating to a buy rating and set a $83.00 target price on the stock in a research report on Tuesday, June 12th. Finally, Morgan Stanley lowered Group 1 Automotive to a sell rating in a research report on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Group 1 Automotive presently has a consensus rating of Hold and an average price target of $82.63.
GPI stock opened at $69.99 on Monday. Group 1 Automotive has a 52-week low of $51.62 and a 52-week high of $84.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.26 and a current ratio of 1.07. The firm has a market cap of $1.46 billion, a PE ratio of 9.09 and a beta of 1.78.
Group 1 Automotive declared that its Board of Directors has authorized a stock repurchase program on Wednesday, May 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of GPI. James Investment Research Inc. raised its position in Group 1 Automotive by 7.0% in the second quarter. James Investment Research Inc. now owns 42,790 shares of the company’s stock valued at $2,696,000 after purchasing an additional 2,795 shares during the period. Smith Graham & Co. Investment Advisors LP raised its position in Group 1 Automotive by 10.0% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 137,638 shares of the company’s stock valued at $8,671,000 after purchasing an additional 12,480 shares during the period. OppenheimerFunds Inc. raised its position in Group 1 Automotive by 0.6% in the first quarter. OppenheimerFunds Inc. now owns 608,094 shares of the company’s stock valued at $39,732,000 after purchasing an additional 3,467 shares during the period. TIAA CREF Investment Management LLC raised its position in Group 1 Automotive by 49.1% in the fourth quarter. TIAA CREF Investment Management LLC now owns 120,257 shares of the company’s stock valued at $8,535,000 after purchasing an additional 39,622 shares during the period. Finally, Wells Fargo & Company MN raised its position in Group 1 Automotive by 35.0% in the fourth quarter. Wells Fargo & Company MN now owns 43,924 shares of the company’s stock valued at $3,118,000 after purchasing an additional 11,390 shares during the period.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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