Group 1 Automotive (NYSE:GPI) Trading Down 8.1% - Here's Why

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) fell 8.1% during mid-day trading on Thursday . The company traded as low as $407.50 and last traded at $408.45. 117,588 shares were traded during trading, a decline of 22% from the average session volume of 150,407 shares. The stock had previously closed at $444.52.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup lifted their price objective on Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Benchmark initiated coverage on Group 1 Automotive in a research report on Tuesday, June 24th. They set a "hold" rating for the company. Wall Street Zen lowered Group 1 Automotive from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Bank of America boosted their target price on Group 1 Automotive from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, JPMorgan Chase & Co. cut Group 1 Automotive from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $435.00 to $415.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $470.14.

Group 1 Automotive Stock Performance

The company has a 50-day moving average price of $440.58 and a two-hundred day moving average price of $431.40. The company has a quick ratio of 0.27, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $5.34 billion, a PE ratio of 11.59, a PEG ratio of 1.02 and a beta of 0.90.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.68 by $0.49. The company had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.37 billion. Group 1 Automotive had a net margin of 2.27% and a return on equity of 17.96%. Group 1 Automotive's quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.49 earnings per share. Analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, June 2nd. Group 1 Automotive's dividend payout ratio (DPR) is 5.61%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,613 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $405.57, for a total value of $654,184.41. Following the sale, the vice president owned 8,260 shares in the company, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel James Mchenry sold 3,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $441.71, for a total transaction of $1,325,130.00. Following the sale, the chief financial officer owned 16,674 shares in the company, valued at $7,365,072.54. This represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Group 1 Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in shares of Group 1 Automotive by 4.2% during the 4th quarter. Captrust Financial Advisors now owns 571 shares of the company's stock worth $241,000 after acquiring an additional 23 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in Group 1 Automotive by 2.2% during the second quarter. Contravisory Investment Management Inc. now owns 1,077 shares of the company's stock worth $470,000 after buying an additional 23 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Group 1 Automotive by 2.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,022 shares of the company's stock valued at $446,000 after buying an additional 23 shares during the period. Sage Rhino Capital LLC raised its stake in shares of Group 1 Automotive by 4.6% in the 2nd quarter. Sage Rhino Capital LLC now owns 563 shares of the company's stock valued at $246,000 after acquiring an additional 25 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Group 1 Automotive by 24.8% during the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock worth $56,000 after buying an additional 29 shares during the period. 99.92% of the stock is owned by 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.