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

Shares of Group 1 Automotive, Inc. (NYSE:GPI) traded up 7.1% during trading on Wednesday . The company 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.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a research note on Wednesday, April 17th. Stephens reissued an “overweight” rating and set a $330.00 price objective on shares of Group 1 Automotive in a research report on Tuesday, February 13th. Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $200.00 to $255.00 in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price objective on Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $331.67.

Group 1 Automotive Price Performance

The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $271.75 and a two-hundred day moving average price of $274.03. The stock has a market capitalization of $4.07 billion, a P/E ratio of 7.07, a P/E/G ratio of 1.36 and a beta of 1.42.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, January 31st. The company reported $9.50 EPS for the quarter, missing the consensus estimate of $10.44 by ($0.94). Group 1 Automotive had a return on equity of 24.36% and a net margin of 3.34%. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the business posted $10.86 earnings per share. Group 1 Automotive’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts expect that Group 1 Automotive, Inc. will post 39.37 EPS for the current year.

Group 1 Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.62%. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 29th. Group 1 Automotive’s dividend payout ratio (DPR) is presently 4.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Group 1 Automotive during the 4th quarter valued at about $46,923,000. Hennessy Advisors Inc. purchased a new position in Group 1 Automotive in the 4th quarter worth approximately $24,562,000. Wellington Management Group LLP purchased a new position in Group 1 Automotive in the 4th quarter worth approximately $21,296,000. The Manufacturers Life Insurance Company lifted its holdings in Group 1 Automotive by 12.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 574,561 shares of the company’s stock worth $154,390,000 after purchasing an additional 63,726 shares in the last quarter. Finally, Covalis Capital LLP purchased a new position in Group 1 Automotive in the 3rd quarter worth approximately $16,330,000. 99.92% of the stock is owned by hedge funds and other 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.