Group 1 Automotive (NYSE:GPI) Upgraded to “Overweight” by Morgan Stanley

Morgan Stanley upgraded shares of Group 1 Automotive (NYSE:GPI) from an equal weight rating to an overweight rating in a report issued on Wednesday morning, Marketbeat reports. They currently have $430.00 target price on the stock, up from their prior target price of $285.00.

Several other research firms also recently commented on GPI. StockNews.com downgraded Group 1 Automotive from a hold rating to a sell rating in a research report on Thursday, September 12th. Bank of America decreased their price objective on Group 1 Automotive from $445.00 to $435.00 and set a buy rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an overweight rating in a research report on Tuesday, September 10th. Finally, Stephens assumed coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an equal weight rating and a $394.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Group 1 Automotive currently has a consensus rating of Moderate Buy and a consensus price target of $396.80.

Group 1 Automotive Stock Up 1.0 %

NYSE:GPI opened at $385.94 on Wednesday. Group 1 Automotive has a twelve month low of $228.84 and a twelve month high of $393.93. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $356.83 and its two-hundred day moving average price is $315.54.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The business had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the business posted $11.73 EPS. Group 1 Automotive’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that Group 1 Automotive will post 39.18 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.88 dividend on an annualized basis and a yield of 0.49%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 4.44%.

Insider Activity

In related news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the transaction, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Group 1 Automotive

A number of hedge funds have recently added to or reduced their stakes in GPI. Campbell & CO Investment Adviser LLC bought a new position in shares of Group 1 Automotive in the 4th quarter worth $2,203,000. Hennessy Advisors Inc. grew its holdings in shares of Group 1 Automotive by 14.0% during the first quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock valued at $26,856,000 after buying an additional 11,300 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Group 1 Automotive during the first quarter worth about $887,000. Wells Fargo & Company MN raised its holdings in shares of Group 1 Automotive by 21.6% in the 4th quarter. Wells Fargo & Company MN now owns 30,845 shares of the company’s stock worth $9,400,000 after acquiring an additional 5,472 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Group 1 Automotive by 15.2% in the first quarter. BNP Paribas Financial Markets now owns 22,236 shares of the company’s stock valued at $6,498,000 after purchasing an additional 2,927 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors.

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.