Group 1 Automotive (NYSE:GPI) Hits New 52-Week Low – Here’s What Happened

Shares of Group 1 Automotive, Inc. (NYSE:GPI) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $291.33 and last traded at $297.7520, with a volume of 5335 shares. The stock had previously closed at $301.74.

Analysts Set New Price Targets

GPI has been the topic of several research analyst reports. Bank of America initiated coverage on Group 1 Automotive in a research note on Wednesday, March 4th. They set a “buy” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Group 1 Automotive in a report on Friday, June 12th. UBS Group initiated coverage on Group 1 Automotive in a research note on Wednesday, May 27th. They set a “neutral” rating and a $338.00 price target on the stock. Citigroup upped their price objective on shares of Group 1 Automotive from $420.00 to $462.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Group 1 Automotive from $385.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $441.25.

Group 1 Automotive Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 0.95 and a quick ratio of 0.21. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.68 and a beta of 0.81. The stock has a fifty day moving average of $325.32 and a 200 day moving average of $345.85.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $8.66 earnings per share for the quarter, missing the consensus estimate of $8.82 by ($0.16). Group 1 Automotive had a return on equity of 16.63% and a net margin of 1.46%.The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the company posted $10.17 EPS. Group 1 Automotive’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts expect that Group 1 Automotive, Inc. will post 42.37 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, June 1st. Group 1 Automotive’s dividend payout ratio (DPR) is 8.40%.

Hedge Funds Weigh In On Group 1 Automotive

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Group 1 Automotive by 366,770.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 25,431,464 shares of the company’s stock worth $10,002,195,000 after buying an additional 25,424,532 shares during the last quarter. Norges Bank acquired a new position in Group 1 Automotive in the fourth quarter valued at approximately $98,125,000. Franklin Resources Inc. boosted its position in Group 1 Automotive by 968.8% in the 3rd quarter. Franklin Resources Inc. now owns 84,412 shares of the company’s stock worth $36,931,000 after purchasing an additional 76,514 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Group 1 Automotive by 34.8% during the 3rd quarter. Victory Capital Management Inc. now owns 226,915 shares of the company’s stock worth $99,278,000 after purchasing an additional 58,641 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Group 1 Automotive by 365.9% during the 3rd quarter. Algert Global LLC now owns 63,980 shares of the company’s stock valued at $27,992,000 after purchasing an additional 50,248 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

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.