Berenberg Bank Initiates Coverage on Group 1 Automotive, Inc. (GPI)
Equities researchers at Berenberg Bank initiated coverage on shares of Group 1 Automotive, Inc. (NYSE:GPI) in a research note issued on Wednesday. The brokerage set a “hold” rating and a $77.00 price target on the stock. Berenberg Bank’s target price would suggest a potential upside of 5.94% from the stock’s current price.
GPI has been the subject of a number of other research reports. Goldman Sachs Group, Inc. (The) upgraded Group 1 Automotive from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $56.00 to $67.00 in a research report on Thursday, September 7th. ValuEngine lowered Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $66.00 price objective (down previously from $75.00) on shares of Group 1 Automotive in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $73.80.
Shares of Group 1 Automotive (NYSE GPI) opened at 72.68 on Wednesday. Group 1 Automotive has a 12-month low of $51.62 and a 12-month high of $83.18. The stock has a 50 day moving average price of $64.04 and a 200 day moving average price of $63.91. The firm has a market capitalization of $1.46 billion, a P/E ratio of 11.17 and a beta of 1.63.
Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, July 27th. The company reported $1.87 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.12). The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.70 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. Group 1 Automotive’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 EPS. Equities analysts anticipate that Group 1 Automotive will post $7.06 earnings per share for the current fiscal year.
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In related news, CFO John C. Rickel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $66.99, for a total transaction of $669,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Group 1 Automotive by 47,561.6% during the 1st quarter. BlackRock Inc. now owns 2,537,979 shares of the company’s stock valued at $188,015,000 after acquiring an additional 2,532,654 shares in the last quarter. KCG Holdings Inc. raised its stake in Group 1 Automotive by 32.6% during the 1st quarter. KCG Holdings Inc. now owns 4,570 shares of the company’s stock valued at $339,000 after acquiring an additional 1,123 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Group 1 Automotive by 3.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 29,006 shares of the company’s stock valued at $1,836,000 after acquiring an additional 900 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Group 1 Automotive during the 2nd quarter valued at $1,322,000. Finally, Morgan Stanley raised its stake in Group 1 Automotive by 17.5% during the 1st quarter. Morgan Stanley now owns 206,874 shares of the company’s stock valued at $15,325,000 after acquiring an additional 30,820 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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