Trade Report: The Group 1 Automotive Inc. (GPI) gets Sell status at Zacks Investment Research

The Group 1 Automotive Inc. (GPI) gets Sell status at Zacks Investment Research

Zacks Investment Research cut shares of Group 1 Automotive Inc. (NYSE:GPI) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “Group 1 Automotive's dependence on certain auto manufacturers and intensifying competition in the automotive market remain concerns. The company's cash is locked up in inventories to a large extend, which can affect short-term liquidity. Group 1 Automotive’s earnings estimates have been stable lately. The company has a mixed record of surprises in recent quarters.”

Several other analysts have also issued reports on GPI. Seaport Global Securities began coverage on shares of Group 1 Automotive in a report on Tuesday, August 9th. They issued a neutral rating on the stock. Goldman Sachs Group Inc. restated a neutral rating and issued a $61.00 price objective (down from $64.00) on shares of Group 1 Automotive in a report on Saturday, October 8th. Buckingham Research raised Group 1 Automotive from a neutral rating to a buy rating in a research report on Wednesday, July 20th. Finally, TheStreet raised Group 1 Automotive from a hold rating to a buy rating in a research report on Thursday, September 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Group 1 Automotive has an average rating of Hold and an average target price of $64.00.

Group 1 Automotive (NYSE:GPI) traded up 0.23% during mid-day trading on Thursday, hitting $62.28. 76,986 shares of the company’s stock traded hands. Group 1 Automotive has a one year low of $47.31 and a one year high of $89.64. The stock has a market cap of $1.29 billion, a PE ratio of 15.65 and a beta of 1.58. The firm’s 50-day moving average price is $61.48 and its 200-day moving average price is $59.12.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.07. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.86 billion. Group 1 Automotive had a net margin of 0.82% and a return on equity of 17.97%. Group 1 Automotive’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. On average, analysts forecast that Group 1 Automotive will post $7.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Tuesday, August 30th. Group 1 Automotive’s dividend payout ratio is presently 22.66%.

In other news, CEO Earl J. Hesterberg sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. Following the completion of the transaction, the chief executive officer now directly owns 165,251 shares of the company’s stock, valued at $9,910,102.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Peter C. Delongchamps sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $61.22, for a total value of $459,150.00. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in GPI. Goldman Sachs Group Inc. increased its position in shares of Group 1 Automotive by 131.7% in the first quarter. Goldman Sachs Group Inc. now owns 219,234 shares of the company’s stock worth $12,867,000 after buying an additional 124,602 shares in the last quarter. Hillcrest Asset Management LLC bought a new position in shares of Group 1 Automotive during the first quarter worth approximately $4,727,000. BlackRock Institutional Trust Company N.A. increased its position in shares of Group 1 Automotive by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 688,829 shares of the company’s stock worth $40,427,000 after buying an additional 4,440 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Group 1 Automotive by 614.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 61,830 shares of the company’s stock worth $3,629,000 after buying an additional 53,170 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Group 1 Automotive by 6.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,374 shares of the company’s stock worth $315,000 after buying an additional 325 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

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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