Group 1 Automotive (NYSE:GPI) Price Target Raised to $442.00 at Guggenheim

Group 1 Automotive (NYSE:GPI) had its price objective lifted by equities research analysts at Guggenheim from $420.00 to $442.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 8.79% from the stock’s current price.

GPI has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stephens initiated coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $425.20.

Group 1 Automotive Stock Performance

Shares of NYSE:GPI traded up $4.56 during midday trading on Thursday, reaching $406.29. 170,467 shares of the company’s stock traded hands, compared to its average volume of 134,991. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 10.85 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. Group 1 Automotive has a one year low of $255.73 and a one year high of $422.28. The stock has a 50 day moving average of $375.10 and a 200 day moving average of $340.96.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $12.07 earnings per share. As a group, equities research analysts anticipate that Group 1 Automotive will post 38.52 EPS for the current fiscal year.

Group 1 Automotive announced that its board has authorized a share repurchase program on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Group 1 Automotive

Several hedge funds have recently modified their holdings of GPI. FMR LLC increased its position in shares of Group 1 Automotive by 133.0% during the third quarter. FMR LLC now owns 407,930 shares of the company’s stock worth $156,253,000 after purchasing an additional 232,846 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after purchasing an additional 115,143 shares in the last quarter. Woodson Capital Management LP increased its position in shares of Group 1 Automotive by 114.6% during the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock worth $41,643,000 after purchasing an additional 76,102 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Group 1 Automotive by 596.3% during the third quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock valued at $29,259,000 after buying an additional 65,414 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Group 1 Automotive by 3,663.1% during the third quarter. Verition Fund Management LLC now owns 55,280 shares of the company’s stock valued at $21,174,000 after buying an additional 53,811 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

About Group 1 Automotive

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.