Group 1 Automotive (NYSE:GPI) Shares Up 7.1%

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) was up 7.1% on Wednesday . The stock traded as high as $304.87 and last traded at $299.37. Approximately 73,494 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 136,519 shares. The stock had previously closed at $279.50.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GPI shares. Guggenheim upgraded shares of Group 1 Automotive from a "neutral" rating to a "buy" rating and set a $305.00 target price on the stock in a report on Wednesday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Group 1 Automotive from $325.00 to $315.00 and set an "overweight" rating on the stock in a report on Wednesday, April 17th. Stephens reiterated an "overweight" rating and issued a $330.00 target price on shares of Group 1 Automotive in a report on Tuesday, February 13th. StockNews.com lowered shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. Finally, Morgan Stanley raised shares of Group 1 Automotive from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $200.00 to $255.00 in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have given 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 $331.67.

Group 1 Automotive Price Performance

The company's 50-day moving average price is $271.84 and its 200-day moving average price is $274.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.11 and a quick ratio of 0.33. The company has a market cap of $4.05 billion, a P/E ratio of 6.99, a P/E/G ratio of 1.36 and a beta of 1.42.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its earnings results on Wednesday, January 31st. The company reported $9.50 earnings per share for the quarter, missing analysts' consensus estimates of $10.44 by ($0.94). The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.41 billion. Group 1 Automotive had a net margin of 3.34% and a return on equity of 24.36%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted $10.86 EPS. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 39.37 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.47 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.88 dividend on an annualized basis and a yield of 0.63%. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.45. Group 1 Automotive's dividend payout ratio (DPR) is 4.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates grew its position in Group 1 Automotive by 33.5% in the first quarter. Raymond James & Associates now owns 37,446 shares of the company's stock valued at $10,943,000 after purchasing an additional 9,394 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Group 1 Automotive in the first quarter valued at $247,000. Allspring Global Investments Holdings LLC lifted its stake in Group 1 Automotive by 5.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,808 shares of the company's stock valued at $528,000 after acquiring an additional 96 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in Group 1 Automotive by 14.0% in the first quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company's stock valued at $26,856,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Range Financial Group LLC lifted its stake in Group 1 Automotive by 7.8% in the first quarter. Range Financial Group LLC now owns 4,020 shares of the company's stock valued at $1,175,000 after acquiring an additional 291 shares during the last quarter. Institutional investors own 99.92% of the company's stock.

Group 1 Automotive Company Profile

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.