Guggenheim Upgrades Group 1 Automotive (NYSE:GPI) to Buy

Guggenheim upgraded shares of Group 1 Automotive (NYSE:GPI) from a neutral rating to a buy rating in a report released on Wednesday, Marketbeat.com reports. Guggenheim currently has $305.00 price target on the stock.

Several other research firms also recently weighed in on GPI. StockNews.com downgraded Group 1 Automotive from a buy rating to a hold rating in a research report on Thursday, February 1st. Stephens restated an overweight rating and issued a $330.00 target price on shares of Group 1 Automotive in a research report on Tuesday, February 13th. Finally, Morgan Stanley upgraded Group 1 Automotive from an underweight rating to an equal weight rating and raised their target price for the company from $200.00 to $255.00 in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $331.67.

Group 1 Automotive Stock Down 1.4 %

Shares of GPI opened at $265.76 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. Group 1 Automotive has a 12 month low of $214.25 and a 12 month high of $310.08. The stock’s 50 day moving average is $272.31 and its two-hundred day moving average is $273.68. The firm has a market cap of $3.59 billion, a P/E ratio of 6.23, a PEG ratio of 1.38 and a beta of 1.42.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $9.50 EPS for the quarter, missing the consensus estimate of $10.44 by ($0.94). The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.41 billion. Group 1 Automotive had a net margin of 3.34% and a return on equity of 24.36%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $10.86 earnings per share. Analysts predict that Group 1 Automotive will post 38.97 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.47 per share. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 29th. This represents a $1.88 dividend on an annualized basis and a yield of 0.71%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 4.41%.

Hedge Funds Weigh In On Group 1 Automotive

A number of institutional investors have recently added to or reduced their stakes in GPI. Principal Securities Inc. acquired a new position in Group 1 Automotive during the 4th quarter worth $27,000. Financial Management Professionals Inc. purchased a new stake in Group 1 Automotive during the 3rd quarter worth about $30,000. Parkside Financial Bank & Trust lifted its holdings in Group 1 Automotive by 159.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Group 1 Automotive by 54.6% during the 3rd quarter. Federated Hermes Inc. now owns 252 shares of the company’s stock worth $36,000 after buying an additional 89 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new stake in Group 1 Automotive during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.