Buckingham Research Downgrades Group 1 Automotive, Inc. (GPI) to Neutral

Group 1 Automotive, Inc. (NYSE:GPI) was downgraded by stock analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a report issued on Monday. They currently have a $86.00 price objective on the stock. Buckingham Research’s price objective would suggest a potential upside of 11.11% from the stock’s previous close.

A number of other research analysts have also issued reports on GPI. TheStreet lowered shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th. BidaskClub lowered shares of Group 1 Automotive from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) upgraded shares of Group 1 Automotive from a “sell” rating to a “neutral” rating and raised their target price for the company from $56.00 to $67.00 in a research note on Thursday, September 7th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $66.00 target price (down from $75.00) on shares of Group 1 Automotive in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $79.00.

Group 1 Automotive (NYSE GPI) opened at $77.40 on Monday. Group 1 Automotive has a 12 month low of $51.62 and a 12 month high of $83.18. The company has a market cap of $1,616.99, a price-to-earnings ratio of 10.52, a PEG ratio of 1.51 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.27 and a current ratio of 1.05.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Thursday, October 26th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.47. Group 1 Automotive had a net margin of 1.20% and a return on equity of 15.69%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business posted $1.96 EPS. Group 1 Automotive’s revenue was up 6.7% compared to the same quarter last year. research analysts forecast that Group 1 Automotive will post 7.32 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://sportsperspectives.com/2017/11/15/buckingham-research-downgrades-group-1-automotive-inc-gpi-to-neutral.html.

In other Group 1 Automotive news, VP Darryl M. Burman sold 10,000 shares of the stock in a transaction on Friday, October 27th. The shares were sold at an average price of $79.74, for a total value of $797,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter C. Delongchamps sold 9,110 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $80.16, for a total transaction of $730,257.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,694 shares of company stock valued at $5,189,106. Insiders own 6.08% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in Group 1 Automotive by 17.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,797 shares of the company’s stock valued at $114,000 after purchasing an additional 271 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Group 1 Automotive by 93.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,932 shares of the company’s stock worth $122,000 after acquiring an additional 932 shares during the period. SG Americas Securities LLC bought a new position in shares of Group 1 Automotive during the 2nd quarter worth about $177,000. Paloma Partners Management Co bought a new position in shares of Group 1 Automotive during the 1st quarter worth about $200,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Group 1 Automotive during the 2nd quarter worth about $211,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.

Analyst Recommendations for Group 1 Automotive (NYSE:GPI)

Receive News & Ratings for Group 1 Automotive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply