Vaughan Nelson Investment Management L.P. boosted its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 36.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 313,702 shares of the company’s stock after buying an additional 83,645 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Group 1 Automotive were worth $27,729,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new stake in shares of Group 1 Automotive in the 1st quarter valued at $33,000. Macquarie Group Ltd. increased its holdings in shares of Group 1 Automotive by 43.4% during the second quarter. Macquarie Group Ltd. now owns 717 shares of the company’s stock worth $47,000 after buying an additional 217 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Group 1 Automotive by 108.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,436 shares of the company’s stock valued at $161,000 after acquiring an additional 1,270 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Group 1 Automotive in the 2nd quarter worth approximately $200,000. Finally, Hancock Whitney Corp bought a new stake in Group 1 Automotive during the 2nd quarter worth approximately $208,000.
A number of research firms have commented on GPI. Morgan Stanley boosted their price objective on Group 1 Automotive from $87.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Benchmark upped their price objective on Group 1 Automotive from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. TheStreet raised Group 1 Automotive from a “c+” rating to a “b-” rating in a research note on Thursday, October 15th. Bank of America upped their target price on shares of Group 1 Automotive from $157.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Finally, ValuEngine lowered shares of Group 1 Automotive from a “sell” rating to a “strong sell” rating in a report on Friday, October 23rd. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $118.96.
Shares of GPI opened at $120.90 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.06 and a quick ratio of 0.30. The firm has a 50-day moving average of $114.21 and a 200-day moving average of $84.83. The company has a market cap of $2.21 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.88 and a beta of 2.23. Group 1 Automotive, Inc. has a one year low of $26.25 and a one year high of $136.35.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $6.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.56 by $0.41. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. Group 1 Automotive had a return on equity of 22.60% and a net margin of 2.13%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.02 earnings per share. Analysts expect that Group 1 Automotive, Inc. will post 16.35 earnings per share for the current year.
In other news, VP Michael David Jones sold 1,000 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $120.44, for a total value of $120,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.20% of the stock is owned by insiders.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It operates primarily in the metropolitan areas in 15 states in the United States; 33 towns in the United Kingdom; and 3 states in Brazil.
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