Group 1 Automotive, Inc. (NYSE:GPI) insider Frank Grese sold 5,000 shares of the company’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $76.98, for a total value of $384,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
GPI opened at $80.08 on Wednesday. The firm has a market cap of $1.56 billion, a PE ratio of 10.36 and a beta of 1.78. Group 1 Automotive, Inc. has a 52-week low of $53.11 and a 52-week high of $84.47. The company has a current ratio of 1.07, a quick ratio of 0.26 and a debt-to-equity ratio of 1.16.
Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, July 26th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.31. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.92 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.97%. Group 1 Automotive’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 EPS. equities analysts forecast that Group 1 Automotive, Inc. will post 8.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, August 31st. Group 1 Automotive’s dividend payout ratio (DPR) is currently 13.45%.
Group 1 Automotive announced that its board has initiated a stock repurchase program on Wednesday, May 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
GPI has been the topic of a number of research reports. Stephens raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Monday, August 6th. Zacks Investment Research lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. Morgan Stanley upped their price objective on Group 1 Automotive from $59.00 to $64.00 and gave the company a “sell” rating in a report on Wednesday, August 15th. Finally, ValuEngine raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $82.88.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Group 1 Automotive by 13.2% in the first quarter. BlackRock Inc. now owns 2,949,848 shares of the company’s stock valued at $192,744,000 after buying an additional 343,818 shares in the last quarter. Abrams Capital Management L.P. boosted its stake in Group 1 Automotive by 99.8% in the first quarter. Abrams Capital Management L.P. now owns 500,471 shares of the company’s stock valued at $32,701,000 after buying an additional 250,000 shares in the last quarter. Tyvor Capital LLC acquired a new stake in Group 1 Automotive in the second quarter valued at about $7,860,000. Prudential Financial Inc. boosted its stake in Group 1 Automotive by 36.9% in the first quarter. Prudential Financial Inc. now owns 357,361 shares of the company’s stock valued at $23,350,000 after buying an additional 96,349 shares in the last quarter. Finally, UBS Group AG boosted its stake in Group 1 Automotive by 21.4% in the first quarter. UBS Group AG now owns 335,355 shares of the company’s stock valued at $21,912,000 after buying an additional 59,187 shares in the last quarter.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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