GP Strategies Corp (GPX) Receives $29.67 Consensus Target Price from Brokerages
Shares of GP Strategies Corp (NYSE:GPX) have been given a consensus rating of “Buy” by the six research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $29.67.
A number of research analysts have recently commented on GPX shares. B. Riley upgraded shares of GP Strategies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.50 to $28.00 in a research report on Thursday, January 4th. TheStreet lowered shares of GP Strategies from a “b-” rating to a “c” rating in a research report on Friday, November 17th. Finally, Zacks Investment Research upgraded shares of GP Strategies from a “strong sell” rating to a “hold” rating and set a $29.00 price target for the company in a research report on Wednesday, January 3rd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of GP Strategies by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 71,564 shares of the company’s stock valued at $1,890,000 after buying an additional 987 shares during the period. Alliancebernstein L.P. purchased a new position in shares of GP Strategies in the 2nd quarter worth approximately $214,000. Nationwide Fund Advisors grew its position in shares of GP Strategies by 40.3% in the 2nd quarter. Nationwide Fund Advisors now owns 22,294 shares of the company’s stock worth $589,000 after buying an additional 6,400 shares during the last quarter. Northern Trust Corp grew its position in shares of GP Strategies by 1.1% in the 2nd quarter. Northern Trust Corp now owns 180,640 shares of the company’s stock worth $4,768,000 after buying an additional 1,899 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of GP Strategies by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 582,633 shares of the company’s stock worth $15,381,000 after buying an additional 3,013 shares during the last quarter. Hedge funds and other institutional investors own 88.91% of the company’s stock.
GP Strategies declared that its board has approved a share repurchase plan on Wednesday, November 22nd that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
About GP Strategies
GP Strategies Corporation (GP Strategies) is a global performance improvement solutions provider of sales and technical training, e-learning solutions, management consulting and engineering services. The Company operates in five segments: Learning Solutions, Professional & Technical Services, Sandy Training & Marketing, RWD and Energy Services.
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