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

Group 1 Automotive (NYSE:GPI) had its price target boosted by equities research analysts at Guggenheim from $420.00 to $442.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 4.95% from the company’s previous close.

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

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $421.14 on Thursday. Group 1 Automotive has a one year low of $255.73 and a one year high of $422.92. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.22 and a beta of 1.33. The company has a 50-day simple moving average of $376.37 and a 200-day simple moving average of $341.43. 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 (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the business earned $12.07 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Group 1 Automotive will post 38.52 EPS for the current year.

Group 1 Automotive declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

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

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.