Group 1 Automotive, Inc. (NYSE:GPI) Stock Has Average Price Target of $341.67

Group 1 Automotive, Inc. (NYSE:GPI) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $341.67.

Several brokerages recently issued reports on GPI. Benchmark reiterated a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. Morgan Stanley cut shares of Group 1 Automotive from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $300.00 to $232.00 in a research note on Monday, October 5th. Weiss Ratings lowered shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. DA Davidson set a $425.00 target price on shares of Group 1 Automotive in a research report on Friday, July 10th. Finally, Barclays lowered their price target on shares of Group 1 Automotive from $365.00 to $320.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th.

Insider Activity at Group 1 Automotive

In other news, major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average cost of $243.58 per share, for a total transaction of $32,511,109.76. Following the acquisition, the insider directly owned 1,772,050 shares of the company’s stock, valued at $431,635,939. This represents a 8.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 820,030 shares of company stock valued at $211,496,571 over the last quarter. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Leeward Investments LLC MA grew its stake in shares of Group 1 Automotive by 7.8% during the 3rd quarter. Leeward Investments LLC MA now owns 57,283 shares of the company’s stock valued at $13,773,000 after acquiring an additional 4,150 shares during the period. Sage Private Wealth Group LLC bought a new stake in Group 1 Automotive during the 3rd quarter worth approximately $366,000. SummerHaven Investment Management LLC bought a new stake in Group 1 Automotive during the 3rd quarter worth approximately $646,000. GAMMA Investing LLC lifted its stake in shares of Group 1 Automotive by 104.5% during the 3rd quarter. GAMMA Investing LLC now owns 779 shares of the company’s stock valued at $187,000 after buying an additional 398 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in Group 1 Automotive in the 2nd quarter worth $234,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $254.16 on Friday. The company’s 50-day moving average price is $254.80 and its 200-day moving average price is $309.60. Group 1 Automotive has a 12-month low of $224.65 and a 12-month high of $429.00.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate of $10.60 by ($0.99). The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the company posted $10.82 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities analysts forecast that Group 1 Automotive will post 37.68 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.55 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.9%.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.