Group 1 Automotive (NYSE:GPI) Reaches New 1-Year Low – Here’s Why
by Tristan Rich · The Markets DailyGroup 1 Automotive, Inc. (NYSE:GPI – Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as $260.16 and last traded at $260.4520, with a volume of 19638 shares changing hands. The stock had previously closed at $266.11.
Analyst Upgrades and Downgrades
GPI has been the subject of several recent analyst reports. Benchmark restated a “buy” rating on shares of Group 1 Automotive in a research note on Friday, July 10th. Zacks Research lowered shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a report on Monday, August 3rd. Evercore set a $360.00 target price on shares of Group 1 Automotive in a research report on Tuesday, August 4th. Finally, UBS Group cut their price target on shares of Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $400.22.
View Our Latest Stock Analysis on GPI
Group 1 Automotive Stock Down 1.5%
The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.79 and a beta of 0.82. The firm’s 50 day moving average price is $306.18 and its two-hundred day moving average price is $323.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25.
Group 1 Automotive (NYSE:GPI – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The company had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm earned $10.82 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Group 1 Automotive, Inc. will post 39.37 earnings per share for the current fiscal year.
Group 1 Automotive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio is 9.16%.
Hedge Funds Weigh In On Group 1 Automotive
A number of hedge funds and other institutional investors have recently bought and sold shares of GPI. Kendall Capital Management purchased a new position in Group 1 Automotive during the 2nd quarter worth $510,000. Northwestern Mutual Wealth Management Co. purchased a new position in Group 1 Automotive during the second quarter worth about $1,436,000. Quantbot Technologies LP acquired a new stake in Group 1 Automotive in the second quarter valued at about $2,228,000. Keebeck Wealth Management purchased a new stake in Group 1 Automotive in the 2nd quarter valued at approximately $342,000. Finally, Allworth Financial LP acquired a new position in Group 1 Automotive during the 2nd quarter worth approximately $75,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.
About Group 1 Automotive
Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.
Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.