Group 1 Automotive (NYSE:GPI) Coverage Initiated at Evercore ISI

Analysts at Evercore ISI initiated coverage on shares of Group 1 Automotive (NYSE:GPI) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $500.00 price target on the stock. Evercore ISI’s target price indicates a potential upside of 23.07% from the stock’s previous close.

GPI has been the subject of a number of other research reports. Weiss Ratings downgraded Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. lowered their price objective on shares of Group 1 Automotive from $435.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Group 1 Automotive in a report on Friday, January 9th. Morgan Stanley set a $460.00 target price on shares of Group 1 Automotive in a research report on Monday, December 8th. Finally, Barclays began coverage on shares of Group 1 Automotive in a research report on Tuesday, November 11th. They set an “overweight” rating and a $510.00 price target for the company. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $473.25.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $406.27 on Tuesday. The company’s fifty day moving average price is $401.66 and its 200-day moving average price is $425.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 0.25. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.22 and a beta of 0.89. Group 1 Automotive has a one year low of $355.91 and a one year high of $490.09.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Tuesday, October 28th. The company reported $10.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.64 by ($0.19). The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Group 1 Automotive had a return on equity of 18.08% and a net margin of 1.67%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $9.90 earnings per share. On average, equities research analysts anticipate that Group 1 Automotive will post 41 earnings per share for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 10.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Group 1 Automotive

Hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in shares of Group 1 Automotive in the third quarter worth about $26,000. Signaturefd LLC grew its position in shares of Group 1 Automotive by 54.9% in the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock worth $31,000 after buying an additional 28 shares during the last quarter. MAI Capital Management grew its position in shares of Group 1 Automotive by 131.3% in the 2nd quarter. MAI Capital Management now owns 74 shares of the company’s stock worth $32,000 after buying an additional 42 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in shares of Group 1 Automotive during the second quarter valued at approximately $43,000. Finally, Assetmark Inc. raised its holdings in shares of Group 1 Automotive by 25.8% during the second quarter. Assetmark Inc. now owns 122 shares of the company’s stock valued at $53,000 after acquiring an additional 25 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

About Group 1 Automotive

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.