Group 1 Automotive (GPI) Announces Quarterly Earnings Results

Group 1 Automotive (NYSE:GPI) posted its quarterly earnings data on Tuesday. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.03, Bloomberg Earnings reports. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. Group 1 Automotive had a return on equity of 15.48% and a net margin of 2.05%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS.

GPI stock opened at $61.89 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.24 and a current ratio of 1.03. The firm has a market capitalization of $1.17 billion, a PE ratio of 8.01, a P/E/G ratio of 1.67 and a beta of 1.80. Group 1 Automotive has a twelve month low of $48.69 and a twelve month high of $81.16.

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Several hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC increased its position in shares of Group 1 Automotive by 24.5% in the 4th quarter. ClariVest Asset Management LLC now owns 95,887 shares of the company’s stock valued at $5,055,000 after buying an additional 18,899 shares in the last quarter. Chicago Equity Partners LLC increased its position in shares of Group 1 Automotive by 5.9% in the 4th quarter. Chicago Equity Partners LLC now owns 64,290 shares of the company’s stock valued at $3,389,000 after buying an additional 3,560 shares in the last quarter. Gator Capital Management LLC bought a new stake in shares of Group 1 Automotive in the 4th quarter valued at $605,000. Rhumbline Advisers increased its position in shares of Group 1 Automotive by 16.3% in the 4th quarter. Rhumbline Advisers now owns 58,423 shares of the company’s stock valued at $3,080,000 after buying an additional 8,206 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Group 1 Automotive by 25.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 8,551 shares of the company’s stock valued at $451,000 after buying an additional 1,750 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on GPI. Zacks Investment Research raised Group 1 Automotive from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, December 13th. TheStreet raised Group 1 Automotive from a “c+” rating to a “b-” rating in a research note on Thursday, January 31st. ValuEngine raised Group 1 Automotive from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 10th. Finally, Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating and set a $61.00 price target on the stock in a research note on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $79.80.

Group 1 Automotive declared that its board has authorized a share buyback plan on Thursday, October 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Group 1 Automotive Company Profile

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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