Group 1 Automotive (NYSE:GPI) Trading Down 3.7% - Here's Why

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report)'s stock price was down 3.7% during trading on Thursday . The company traded as low as $433.31 and last traded at $425.74. Approximately 137,697 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 146,509 shares. The stock had previously closed at $441.96.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GPI. JPMorgan Chase & Co. cut their price target on Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Benchmark initiated coverage on shares of Group 1 Automotive in a report on Tuesday. They issued a "hold" rating for the company. Bank of America upped their price target on shares of Group 1 Automotive from $510.00 to $565.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wall Street Zen raised shares of Group 1 Automotive from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Guggenheim cut shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Group 1 Automotive currently has a consensus rating of "Moderate Buy" and a consensus price target of $473.00.

Group 1 Automotive Stock Down 2.2%

The stock has a market capitalization of $5.60 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 0.27. The business's fifty day moving average price is $425.08 and its two-hundred day moving average price is $427.74.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $10.17 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 analyst estimates of $5.37 billion. Group 1 Automotive had a net margin of 2.27% and a return on equity of 17.96%. The firm's revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the company earned $9.49 earnings per share. On average, equities research analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.46%. Group 1 Automotive's dividend payout ratio is presently 5.61%.

Insider Buying and Selling

In other Group 1 Automotive news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 16,674 shares of the company's stock, valued at $7,365,072.54. This trade represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael David Jones sold 1,613 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 8,260 shares in the company, valued at approximately $3,350,008.20. This trade represents a 16.34% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Group 1 Automotive

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC lifted its stake in Group 1 Automotive by 59.3% in the 4th quarter. Global Retirement Partners LLC now owns 188 shares of the company's stock worth $79,000 after purchasing an additional 70 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Group 1 Automotive by 3.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,335 shares of the company's stock valued at $1,406,000 after purchasing an additional 110 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Group 1 Automotive during the fourth quarter worth approximately $6,218,000. BlueStem Wealth Partners LLC purchased a new position in Group 1 Automotive during the fourth quarter worth approximately $260,000. Finally, Smartleaf Asset Management LLC boosted its stake in Group 1 Automotive by 315.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 374 shares of the company's stock worth $157,000 after buying an additional 284 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.

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