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Group 1 Automotive (NYSE:GPI) Shares Gap Down to $147.00

Defense World · Sep 29, 2022 05:02

Group 1 Automotive, Inc. (NYSE:GPI – Get Rating)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $147.00, but opened at $142.77. Group 1 Automotive shares last traded at $147.79, with a volume of 422 shares traded.

Analyst Upgrades and Downgrades

GPI has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Group 1 Automotive from $200.00 to $210.00 and gave the company a "neutral" rating in a research report on Monday, August 1st. Bank of America lowered their price target on Group 1 Automotive from $375.00 to $358.00 and set a "buy" rating on the stock in a report on Friday, September 9th. Morgan Stanley lowered their price target on Group 1 Automotive from $160.00 to $142.00 and set an "underweight" rating on the stock in a report on Thursday, July 14th. Finally, StockNews.com cut Group 1 Automotive from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 30th.

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Group 1 Automotive Price Performance

The firm has a fifty day moving average price of $173.60 and a two-hundred day moving average price of $174.88. The stock has a market capitalization of $2.46 billion, a P/E ratio of 4.11, a PEG ratio of 0.23 and a beta of 1.41. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.33 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $12.00 EPS for the quarter, topping analysts' consensus estimates of $10.56 by $1.44. Group 1 Automotive had a return on equity of 37.65% and a net margin of 4.35%. The company had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the firm earned $10.31 EPS. Group 1 Automotive's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts expect that Group 1 Automotive, Inc. will post 44.73 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.38 dividend. This is a boost from Group 1 Automotive's previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Wednesday, August 31st. Group 1 Automotive's dividend payout ratio (DPR) is currently 4.01%.

Hedge Funds Weigh In On Group 1 Automotive

A number of institutional investors have recently bought and sold shares of GPI. Geode Capital Management LLC raised its holdings in Group 1 Automotive by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 333,536 shares of the company's stock worth $65,112,000 after purchasing an additional 2,824 shares during the period. Invesco Ltd. increased its stake in Group 1 Automotive by 4.5% in the 4th quarter. Invesco Ltd. now owns 155,441 shares of the company's stock worth $30,344,000 after buying an additional 6,723 shares in the last quarter. Gotham Asset Management LLC increased its stake in Group 1 Automotive by 46.1% in the 4th quarter. Gotham Asset Management LLC now owns 2,061 shares of the company's stock worth $402,000 after buying an additional 650 shares in the last quarter. Barclays PLC increased its stake in Group 1 Automotive by 22.2% in the 4th quarter. Barclays PLC now owns 26,216 shares of the company's stock worth $5,117,000 after buying an additional 4,764 shares in the last quarter. Finally, State Street Corp increased its stake in Group 1 Automotive by 0.3% in the 4th quarter. State Street Corp now owns 673,083 shares of the company's stock worth $131,399,000 after buying an additional 1,845 shares in the last quarter. 98.70% of the stock is owned by institutional investors.

About Group 1 Automotive

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Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. 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. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.