Group 1 Automotive (NYSE:GPI) Upgraded at Benchmark

Benchmark upgraded shares of Group 1 Automotive (NYSE:GPI) from a hold rating to a buy rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has $425.00 price objective on the stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley cut their price objective on shares of Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Barclays set a $470.00 target price on shares of Group 1 Automotive in a report on Monday, February 2nd. Bank of America began coverage on Group 1 Automotive in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Evercore assumed coverage on Group 1 Automotive in a research report on Tuesday, January 20th. They issued an “outperform” rating and a $500.00 price target on the stock. Finally, Weiss Ratings cut Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $453.88.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $330.64 on Monday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.51 and a beta of 0.88. Group 1 Automotive has a 12 month low of $292.44 and a 12 month high of $488.39. The company has a quick ratio of 0.27, a current ratio of 1.08 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average price of $335.33 and a 200 day moving average price of $386.00.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, January 29th. The company reported $8.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.36 by ($0.87). Group 1 Automotive had a net margin of 1.44% and a return on equity of 17.39%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the company posted $10.02 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts expect that Group 1 Automotive will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 0.7%. Group 1 Automotive’s payout ratio is currently 8.80%.

Hedge Funds Weigh In On Group 1 Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Group 1 Automotive by 2,840.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 294 shares of the company’s stock valued at $116,000 after buying an additional 284 shares in the last quarter. Virtu Financial LLC bought a new position in Group 1 Automotive during the fourth quarter worth about $612,000. Invesco Ltd. lifted its holdings in Group 1 Automotive by 5.2% during the fourth quarter. Invesco Ltd. now owns 151,578 shares of the company’s stock worth $59,616,000 after acquiring an additional 7,501 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Group 1 Automotive by 7.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,770 shares of the company’s stock valued at $696,000 after acquiring an additional 128 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in Group 1 Automotive by 118.8% in the fourth quarter. Voloridge Investment Management LLC now owns 47,760 shares of the company’s stock valued at $18,784,000 after acquiring an additional 25,932 shares during the period. 99.92% of the stock is owned by 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.