Group 1 Automotive (NYSE:GPI) Stock, Quote.Headers.trade-ideas

Group 1 Automotive

As of July, Group 1 owns and operates 42 collision centers and 206 automotive dealerships in the US and the UK, offering 35 brands of automobiles altogether. About 150 of the stores are in the US with locations mostly in metropolitan areas in 17 states in the Northeast, Southeast, Midwest, and California. Texas alone contributed 38% of new-vehicle unit volume in 2023 and the UK about 19%. Texas, Oklahoma, and Massachusetts combined was 53%. Revenue in 2023 totaled $17.9 billion. The Inchcape UK deal should close in third-quarter 2024 and add nearly $3 billion of annual revenue. That deal will bring the UK store count to over 110. The company was founded in 1995 and is based in Houston.

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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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AT&amp;T, Group 1 Automotive, Mattel, Seagate And Other Big Stocks Moving Higher On Wednesday

Earnings

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Group 1 Automotive reported Q2 FY24 sales growth of 3% YoY to $4.696 billion, missing the $4.71 billion estimate. New vehicle sales increased by 5.4%, while used vehicle sales grew by 0.2%. Despite these gains, gross profit fell 1.2% to $766.5 million. 

Group 1 Automotive Posts Mixed Q2 Earnings Hit By CDK Outage &amp; Adverse Weather Events

Group 1 Automotive Inc

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Offerings

Group 1 Automotive Intends To Offer For Sale $500M Of Senior Unsecured Notes Due 2030

Shares of General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39934099/general-dynamics-hits-high-revenue-but-faces-earnings-hiccup-in-q2-details">second-quarter EPS results</a>.
Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Dynamics shares declined 5.2% to $279.26 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>NuZee, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) jumped 192% to $3.01.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) rose 142.4% to $3.0799 after falling over 22% on Tuesday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) surged 134% to $0.0609.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) gained 86% to $2.3300.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) gained 74.5% to $10.82.</li>
<li>Pieris Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIRS#NASDAQ">PIRS</a>) jumped 73.4% to $13.77 after the company announced that the company entered into a definitive merger agreement with Palvella Therapeutics.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 50% to $0.60 after licensing partner Pfizer&#8217;s Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec met its primary endpoint.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 28% to $3.2212.</li>
<li>KORE Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) gained 21.8% to $2.84.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) rose 20.5% to $6.87 after reporting unaudited 2024 second quarter and first half financial results.</li>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) climbed 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) rose 18.4% to $3.71. Silynxcom received $815,000 in orders from Israel Defense Forces since July 2024.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 16.4% to $1.0009 after the company announced steady progress in its due diligence efforts in its proposed reverse merger with COVIRIX Medical and anticipates completion by the end of August 2024.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) gained 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) climbed 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) gained 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 8.7% to $0.1809. Allarity Therapeutics revealed on Monday it received a "Wells Notice" from the U.S. Securities and Exchange Commission (SEC).</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) gained 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares surged 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) gained 7% to $26.69 after the company reported better-than-expected <a>second-quarter </a>financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) gained 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) gained 3.1% to $18.78 following second-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares dipped 74.4% to $1.27. Azitra announced the pricing of $10.0 million public offering.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 58% to $2.42.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) dipped 43.8% to $4.25.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 37.2% to $2.6199 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) dipped 34.2% to $0.1414.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) declined 26.9% to $57.46 after the company reported worse-than-expected quarterly financial results. Also, the company issued its FY25 EPS guidance below estimates.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) shares fell 26.7% to $0.3717 as the company announced plans to close 71 locations across 13 states.</li>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) fell 24.5% to $0.0868 after the company announced bankruptcy filing and voluntary delisting and SEC deregistration.</li>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) declined 24.2% to $0.7350 after the company issued an update on Black Lake Uranium Project.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 23.8% to $0.4228 after gaining 11% on Tuesday.</li>
<li>Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) shares fell 22.7% to $2.7750 after the company reported pricing of $55.0 million public offering of common stock, warrants and pre-funded warrants.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) dipped 17.8% to $10.75 after the Phase 2 KINETIC 2 study of SAGE-324 did not demonstrate a statistically significant dose-response relationship on the primary endpoint.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) dipped 13% to $11.33.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 12.3% to $12.23 after the company announced an offering of 8 million common shares.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell 12% to $216.78. Tesla reported weaker-than-expected earnings for its second quarter, while sales topped estimates. The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) dipped 11.3% to $31.90 as the company announced the launch of secondary public offering of ordinary shares.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 10.2% to $15.29.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) dipped 9.5% to $14.41.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) fell 9.3% to $4.61 after jumping 55% on Tuesday.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 9.1% to $25.14 after the company announced a primary offering of 25 million shares.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 8.8% to $4.2150 after the company announced the departure of CCO Anil Kapur.</li>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) fell 8.4% to $92.45.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) fell 8.2% to $56.97.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 8% to $15.69 following second-quarter earnings.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) declined 8% to $14.25.</li>
<li>Weatherford International plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) dipped 7.6% to $123.57 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) fell 7.4% to $532.08 after the company reported worse-than-expected second-quarter sales results and issued third-quarter adjusted EPS guidance below estimates.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares fell 7.1% to $0.5479 after gaining around 23% on Tuesday.</li>
<li>Fortive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) fell 6.9% to $71.36 after the company reported worse-than-expected second-quarter sales results and issued FY24 sales guidance below estimates.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell 5.5% to $367.84 after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 4.1% to $174.29. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3.8% to $254.72 following third-quarter results.</li>
</ul>
Now Read This:  
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">Cramer Calls Axsome A &#8216;Double Or Nothing Stock,&#8217; Says SAP Is &#8216;Incredible</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">&#8216;</a></li>
</ul>

Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

U.S. stocks were lower, with the Dow Jones index falling around 350 points on Wednesday.
Shares of AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) rose during Wednesday's session following <a href="https://www.benzinga.com/news/earnings/24/07/39929205/at-t-q2-earnings-strong-wireless-net-adds-higher-free-cash-flow-stable-annual-outlook">second-quarter earnings</a>.
AT&amp;T reported fiscal second-quarter 2024 operating revenues of $29.8 billion, down 0.4% year over year and missing the analyst consensus estimate of $29.9 billion. Adjusted EPS of 57 cents is in line with the analyst consensus estimate, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
AT&amp;T shares gained 3.1% to $18.78 on Wednesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) shares jumped 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) rose 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) rose 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) gained 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) rose 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) jumped 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Q32 Bio Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTTB#NASDAQ">QTTB</a>) gained 8.2% to $35.00.</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) rose 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares climbed 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) gained 7.2% to $86.80 following quarterly results.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) rose 7% to $26.69 after the company reported better-than-expected second-quarter financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) shares climbed 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>Avantor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) gained 6.5% to $22.55 after it was announced the stock will join the S&amp;P MidCap 400.</li>
<li>CoStar Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) gained 6.5% to $79.69 following second-quarter results.</li>
<li>Protagonist Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTGX#NASDAQ">PTGX</a>) rose 5.8% to $40.49 after BTIG maintained a Buy rating on the stock and raised its price target from $41 to $51.</li>
<li>QuidelOrtho Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QDEL#NASDAQ">QDEL</a>) rose 5.5% to $39.00. The company announced it will replace Hibbett in the S&amp;P SmallCap 600.</li>
<li>Stifel Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SF#NYSE">SF</a>) rose 5.5% to $86.93 following upbeat earnings.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) gained 5.5% to $40.02 following quarterly results.</li>
<li>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>) rose 4.9% to $178.40 following better-than-expected quarterly results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39932485/jim-cramer-calls-axsome-a-double-or-nothing-stock-says-sap-is-incredible">Jim Cramer Calls Axsome A &#8216;Double Or Nothing Stock,&#8217; Says SAP Is &#8216;Incredible</a>&#8216;</li>
</ul>

AT&T, Group 1 Automotive, Mattel, Seagate And Other Big Stocks Moving Higher On Wednesday

WIIM

Group 1 Automotive shares are trading higher after the company reported better-than-expected Q2 adjusted EPS results.

Group 1 Automotive Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) reported second-quarter FY24 sales growth of 3% year-on-year to $4.696 billion, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39925472/group-1-automotive-reports-second-quarter-2024-financial-results" rel="noreferrer noopener">missing the analyst consensus estimate of $4.71 billion.</a>
New vehicle retail sales grew 5.4% to $2.4 billion, Used vehicle sales climbed 0.2% to $1.5 billion and sales of Parts and services increased 2.2% to $574.5 million.
Gross profit for the quarter decreased 1.2% to $766.5 million, and the gross margin compressed 70 basis points to 16.3%.
Operating income plunged 10.9% to $241.1 million and the operating margin contracted 80 basis points to 5.1%.
Adjusted EPS of $9.80 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus estimate of $9.36</a>.
&#8220;Our U.S. team persevered in the face of adversity this quarter. From extreme weather events in Texas and Oklahoma to the CDK outage, we experienced exemplary teamwork, focused on caring for our communities and team members and serving our valued customers efficiently and effectively. Despite these challenges, the U.S. team produced record quarterly new vehicle, parts and service and F&amp;I revenues,&#8221; said President and CEO Daryl Kenningham.
The <a target="_blank" href="https://www.benzinga.com/news/24/07/39591214/cdk-global-aims-to-restore-car-dealership-systems-after-massive-outage-impacted-15-000-clients-follo" rel="noreferrer noopener">cybersecurity incident experienced</a> by CDK Global temporarily disrupted the company&#8217;s business applications and processes in its U.S. operations that rely on CDK&#8217;s dealers&#8217; systems.
In the second quarter, the company repurchased 149,570 shares at an average price per common share of $307.82, for a total of $46.0 million. The company currently has $204.6 million remaining in its Board-authorized common share repurchase program.
Group 1 held $64.4 million in cash and equivalents as of June-end. Inventories as of June-end increased 20% to $2.36 billion from December-end.
&#8220;Our U.K. team remains focused on the acquisition of Inchcape&#8217;s U.K. retail automotive business planned for&nbsp;Q3&nbsp;2024, and we look forward to the successful completion of the transaction which will further strengthen our U.K. presence through the addition of quality assets with an expanded geographic footprint,&#8221; Kenningham added.
Price Action: GPI shares closed lower by 1.19% at $304.76 on Tuesday.

Group 1 Automotive Posts Mixed Q2 Earnings Hit By CDK Outage & Adverse Weather Events

Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) reported quarterly earnings of $9.80 per share which beat the analyst consensus estimate of $9.36 by 4.7 percent. This is a 16.45 percent decrease over earnings of $11.73 per share from the same period last year. The company reported quarterly sales of $4.70 billion which missed the analyst consensus estimate of $4.71 billion by 0.30 percent. This is a 3.01 percent increase over sales of $4.56 billion the same period last year.

Earnings Beats

Earnings Misses

Group 1 Automotive Q2 Adj $9.80 Beats $9.36 Estimate, Sales $4.70B Miss $4.71B Estimate

B of A Securities analyst John Murphy maintains Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) with a Buy and lowers the price target from $445 to $435.

Price Target

Analyst Ratings

B of A Securities Maintains Buy on Group 1 Automotive, Lowers Price Target to $435

CDK statement: &#39;We are ahead of the anticipated schedule, and as of this morning, substantially all dealer connections are live on the Dealer Management System.&#39;
<a href="https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live" title="https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live">https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live</a>

CMAX

CRMT

STLA

'CDK says 'substantially all dealer connections are live' as DMS reboot moves ahead of schedule' - Automotive News

These locations are contiguous with several other dealerships currently owned and operated by Group 1 in the U.K. and are expected to sell more than 2,800 new and used vehicle units annually.&nbsp;
This acquisition is expected to generate&nbsp;$105 million&nbsp;in annual revenues with new cars sales recorded as net revenue under the agency model. &nbsp;&nbsp;&nbsp;
Year to date 2024, Group 1 has completed&nbsp;$1.1 billion&nbsp;of acquired revenues. &nbsp;With the pending Inchcape U.K. dealership acquisition, which is expected to close during the&nbsp;third quarter&nbsp;of 2024, total acquired revenues are expected to be approximately&nbsp;$3.8 billion&nbsp;at the time of closing.&nbsp;

Group 1 Automotive Expands Its UK Operations With Acquisition Of Four Mercedes-Benz Dealerships From L&L Automotive; No Terms Disclosed

CDK Expects All Car Dealership Systems To Be Restored By Early July 4

Group 1 Automotive, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>)&nbsp;(&quot;Group 1&quot; or the &quot;Company&quot;),&nbsp;a Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., today announced that the cybersecurity incident recently experienced by third-party software provider, CDK Global LLC (&quot;CDK&quot;), has disrupted Group 1&#39;s business applications and processes in its U.S. operations that rely on CDK&#39;s dealers&#39; systems.&nbsp;
In response, the Company immediately activated its cyber incident response procedures and proactively took measures to protect and isolate its systems from CDK&#39;s platform.&nbsp; Despite the CDK service outage, all Group 1 U.S. dealerships continue to conduct business using alternative processes until CDK&#39;s dealers&#39; systems are available.&nbsp; The Company&#39;s dealerships in the U.K. do not use CDK&#39;s dealers&#39; systems and are therefore not impacted by the CDK service outage.
CDK has advised that it anticipates the restoration of the dealer management system will require several days and not weeks.&nbsp; The timing of the restoration of other impacted CDK applications remains unclear at this time. Group 1&#39;s ability to determine the material impact, if any, of the CDK incident and the resulting service outage, will ultimately depend on a number of factors, including when, and to what extent, the Company resumes its access to CDK&#39;s dealers&#39; systems. Group 1 is closely monitoring this situation and will take additional action if determined necessary.
&quot;Our associates are coming together with an unwavering focus on delivering the best possible customer experience. Their efforts have been nothing short of exemplary. &nbsp;We&#39;d like to thank our team, our customers, and our partners for their patience as we navigate this outage,&quot; said&nbsp;Daryl Kenningham, Group 1&#39;s President and Chief Executive Officer.

Group 1 Automotive Adopts New Measures After CDK Global Cyber Incident

Top Publicly Held Dealer Group Goes All-In on Innovation with CDK Dealership Xperience Platform
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cdkglobal.com%2F&amp;esheet=54016685&amp;newsitemid=20240528725748&amp;lan=en-US&amp;anchor=CDK&amp;index=1&amp;md5=8045206a11ee7a89c7aba0f1ddb2c8a6">CDK</a>, the leading automotive retail software provider, today announced the extension of its agreement with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.group1auto.com%2F&amp;esheet=54016685&amp;newsitemid=20240528725748&amp;lan=en-US&amp;anchor=Group+1+Automotive&amp;index=2&amp;md5=3c3e77a88aa334606781f5976dfc9ab7">Group 1 Automotive</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>), a Fortune 300 automotive retailer with 203 dealerships located in the U.S. and U.K., to provide its U.S. franchise locations with the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cdkglobal.com%2Fdealership-xperience-platform&amp;esheet=54016685&amp;newsitemid=20240528725748&amp;lan=en-US&amp;anchor=CDK+Dealership+Xperience&amp;index=3&amp;md5=6c1e0ddc9c4bd98761c234b87b898090">CDK Dealership Xperience</a>, an open and integrated cloud-native platform that modernizes how dealers sell and service cars and operate their businesses in a digital world.
As a close partner and early adopter of CDK, the extension allows Group 1 to further leverage the capabilities of the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.cdkglobal.com%2Fcdk-modern-retail-suite&amp;esheet=54016685&amp;newsitemid=20240528725748&amp;lan=en-US&amp;anchor=CDK+Modern+Retail+Suite%2C&amp;index=4&amp;md5=47026b446afb34582b3acc770b3ccc49">CDK Modern Retail Suite,</a> which includes Digital Retailing, CRM, and F&amp;I. Group 1 can also build, innovate and integrate apps and real-time workflows with APIs delivered through <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Ffortellis.io%2F&amp;esheet=54016685&amp;newsitemid=20240528725748&amp;lan=en-US&amp;anchor=Fortellis&amp;index=5&amp;md5=1cc5ce3b116c1696f02f929276178455">Fortellis</a>—the automotive industry's leading developer platform.
 &nbsp;

CDK Extends Relationship With Group 1 Automotive To Provide Its U.S. Franchise Locations With The CDK Dealership Xperience

The Nasdaq 100 closed lower by over 80 points on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Kirby</h3>
<ul>
<li>The Trade: Kirby Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEX#NYSE">KEX</a>) Director Richard J Alario <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,500 shares</a> at an average price of $121.39. The insider received around $303,475 from selling those shares.</li>
<li>What's Happening: On April 25, Kirby reported better-than-expected first-quarter EPS and sales.</li>
<li>What Kirby Does: Kirby Corp is a domestic tank barge operator, transporting bulk liquid products throughout three United States coasts.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<h3 class="wp-block-heading">Group 1 Automotive</h3>
<ul>
<li>The Trade: Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) SVP and CFO Daniel James McHenry <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,437 shares</a> at an average price of $309.61. The insider received around $754,520 from selling those shares.</li>
<li>What's Happening: On May 9, Group 1 Automotive board approved a new $250 million share repurchase authorization and declared a quarterly dividend.</li>
<li>What Group 1 Automotive Does: As of year-end 2023, Group 1 owns and operates 41 collision centers and 199 automotive dealerships in the US and the UK, offering 35 brands of automobiles altogether.</li>
</ul>
<h3 class="wp-block-heading">Archer-Daniels-Midland</h3>
<ul>
<li>The Trade: Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) Vice Pres., Corp. Controller Fruit Molly L Strader <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 6,904 shares</a> at an average price of $60.73. The insider received around $419,280 from selling those shares.</li>
<li>What's Happening: On April 30, the company reported first-quarter adjusted earnings per share of $1.46, beating the analyst consensus of $1.36.</li>
<li>What Archer-Daniels-Midland Does: Archer-Daniels Midland is a major processor of oilseeds, corn, wheat, and other agricultural commodities.</li>
</ul>
<h3 class="wp-block-heading">Morningstar</h3>
<ul>
<li>The Trade: Morningstar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MORN#NASDAQ">MORN</a>) Executive Chairman Joseph D Mansueto <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 13,009 shares</a> at an average price of $299.03. The insider received around $3.89 million from selling those shares.</li>
<li>What's Happening: Morningstar said Rod Diefendorf will be appointed the next leader of PitchBook as President and Chief Operating Officer.</li>
<li>What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38984458/top-5-tech-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month</a>

Short Ideas

Insider Trades

Pre-Market Outlook

MORN

Archer-Daniels-Midland, Morningstar And 2 Other Stocks Insiders Are Selling

Group 1 Automotive, Inc. (NYSE:<a href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) ("Group 1" or the "Company"),&nbsp;a Fortune 300 automotive retailer with 203 dealerships located in the U.S. and U.K., today announced its board of directors approved a new share repurchase authorization of $250 million, and also declared a quarterly dividend.&nbsp;
<ul>
<li>Share Repurchase Authorization Increase The Company announced that its board of directors increased the Company's common share repurchase authorization by $161 million to $250 million. &nbsp;Year-to-date 2024, the Company repurchased 205,551 shares at an average price per common share of $264.74, for a total of $54 million.&nbsp; Purchases may be made from time to time, based on market conditions, legal requirements, and other corporate considerations, in the open market or in privately negotiated transactions.&nbsp; The Company expects that any repurchase of shares will be funded by cash from operations.&nbsp; Repurchased shares will be held in treasury. &nbsp;</li>
<li>Quarterly Dividend Group 1's board of directors also declared a $0.47 dividend per share that will be payable on June 17, 2024, to stockholders of record as of June 3, 2024.&nbsp; The dividend is consistent with the Company's previously announced increase of 4% in its annualized dividend rate from $1.80 per share in 2023 to $1.88 per share in 2024.&nbsp;</li>
</ul>

Dividends

Buybacks

Group 1 Automotive Board Approves New $250M Share Repurchase Authorization; Declares Quarterly Dividend Up From $0.45 To $0.47 Per Share

JP Morgan analyst Rajat Gupta maintains Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) with a Overweight and lowers the price target from $315 to $310.

JP Morgan Maintains Overweight on Group 1 Automotive, Lowers Price Target to $310

U.S. stocks were mixed, with the Dow Jones falling over 100 points on Wednesday.
Shares of Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) rose sharply during Wednesday's session after the company reported better-than-expected first-quarter financial results and raised FY24 <a href="https://www.benzinga.com/news/earnings/24/04/38402048/hilton-stock-is-jumping-post-q1-results-heres-why">adjusted EPS guidance.</a>
Hilton Worldwide shares gained 5.7% to $208.21 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares gained 29.9% to $28.20 after the company announced the results of an independent investigation showed the company and its executives had no involvement with, or knowledge of, any of the alleged misconduct concerning Mr. Kahn or any of his affiliates.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares jumped 29% to $2.8948.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) shares climbed 27.2% to $3.2699 after the company reported first-quarter financial results and issued guidance.</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) gained 12.1% to $65.13 following better-than-expected first-quarter financial results.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 11.9% to $161.93 following first-quarter results.</li>
<li>Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) gained 11.2% to $88.07 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) gained 11% to $12.76.</li>
<li>Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) gained 9.9% to $22.50.</li>
<li>Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) rose 9.2% to $4.1402. Navitas Semiconductor is expected to report first-quarter financial results on Thursday, May 9.</li>
<li>Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) gained 9% to $161.84 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) gained 8.4% to $63.07 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Cullinan Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEM#NASDAQ">CGEM</a>) gained 8% to $18.00.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) jumped 7.7% to $13.95.</li>
<li>Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) gained 6.4% to $176.10 following a first-quarter earnings beat.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) rose 6.2% to $73.24 after the company reported better than expected first-quarter earnings and issued guidance.</li>
<li>Watsco, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSO#NYSE">WSO</a>) gained 6.2% to $439.17 following first-quarter results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) jumped 6.1% to $296.67 after the company reported better-than-expected first-quarter financial results.</li>
</ul>
Read More: Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts

BILI

CGEM

LWAY

NVTS

RBBN

RILY

Hilton Worldwide Reports Upbeat Results, Joins Hasbro, Vertiv Holdings And Other Big Stocks Moving Higher On Wednesday

Group 1 Automotive shares are trading higher after the company reported better-than-expected Q1 financial results.

Group 1 Automotive, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) reported first-quarter adjusted earnings per share of $9.49,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38397575/group-1-automotive-reports-first-quarter-2024-financial-results" rel="noreferrer noopener">beating the Wall Street view of $9.38.</a>&nbsp;
Quarterly revenues of $4.471 billion&nbsp;outpaced the analyst consensus of $4.379 billion. Sales rose&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">8.2% year over year.</a>
Net income from continuing operations for the current quarter was&nbsp;$147.4 million, a 7.2% decrease year over year.
Parts and service revenues of&nbsp;$576.2 million rose 5.1%&nbsp;year over year.&nbsp;U.K.&nbsp;total revenues&nbsp;of&nbsp;$824.8 million increased&nbsp;4.7%.
&#8220;Our&nbsp;U.K.&nbsp;team rebounded nicely from the challenging fourth quarter of 2023, producing record quarterly revenues from parts and service and new vehicles, as well as increasing used vehicle sales volumes over 19% sequentially,&#8221; said&nbsp;Daryl Kenningham, Group 1&#8217;s President and Chief Executive Officer.
Total gross profit rose 2% year over year to $742.6 million. In the current quarter, the company successfully acquired and integrated dealership operations with total expected annual revenues <a href="https://www.benzinga.com//node/38244754" target="_blank" rel="noreferrer noopener">of approximately $1.0 billion.</a>
Group 1 Automotive disposed of six dealerships located in&nbsp;Beaumont, Texas. These dealerships generated approximately&nbsp;$260 million&nbsp;in annual revenues.
The company has&nbsp;$89.6&nbsp;million remaining on its authorized common share repurchase program.
Price Action:&nbsp;GPI shares are trading higher by 6.6% to $298.10 at last check Wednesday.

Guidance

Group 1 Automotive 7% After Q1 Earnings - CEO Touts Strength In UK Operations

Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) reported quarterly earnings of $9.49 per share which beat the analyst consensus estimate of $9.38 by 1.17 percent. This is a 13.17 percent decrease over earnings of $10.93 per share from the same period last year. The company reported quarterly sales of $4.47 billion which beat the analyst consensus estimate of $4.38 billion by 2.08 percent. This is a 8.26 percent increase over sales of $4.13 billion the same period last year.

Group 1 Automotive Q1 Adj. EPS $9.49 Beats $9.38 Estimate, Sales $4.47B Beat $4.38B Estimate

Across the recent three months, 4 analysts have shared their insights on Group 1 Automotive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Group 1 Automotive and provided 12-month price targets. The average target is $301.25, accompanied by a high estimate of $330.00 and a low estimate of $255.00. This current average reflects an increase of 14.76% from the previous average price target of $262.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1713366034_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The analysis of recent analyst actions sheds light on the perception of Group 1 Automotive by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$315.00</td>
<td>$325.00</td>
</tr>
<tr>
<td>Ronald Jewsikow</td>
<td>Guggenheim</td>
<td>Announces</td>
<td>Buy</td>
<td>$305.00</td>
<td>-</td>
</tr>
<tr>
<td>Adam Jonas</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$255.00</td>
<td>$200.00</td>
</tr>
<tr>
<td>Daniel Imbro</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$330.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Group 1 Automotive. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Group 1 Automotive compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Group 1 Automotive's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Group 1 Automotive's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/GPI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Group 1 Automotive analyst ratings.</a>
<h2>All You Need to Know About Group 1 Automotive</h2>
As of year-end 2023, Group 1 owns and operates 41 collision centers and 199 automotive dealerships in the US and the UK, offering 35 brands of automobiles altogether. About 150 of the stores are in the US with locations mostly in metropolitan areas in 17 states in the Northeast, Southeast, Midwest, and California. Texas alone contributed 38% of new-vehicle unit volume in 2023 and the UK about 19%. Texas, Oklahoma, and Massachusetts combined was 53%. Revenue in 2023 totaled $17.9 billion. The Inchcape UK deal should close in third-quarter 2024 and add about $3 billion of revenue. That deal will bring the UK store count to 109 and total stores to more than 250. The company was founded in 1995 and is based in Houston.
<h3>Breaking Down Group 1 Automotive's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Group 1 Automotive showcased positive performance, achieving a revenue growth rate of 10.1% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 2.1%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Group 1 Automotive's ROE excels beyond industry benchmarks, reaching 3.55%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Group 1 Automotive's ROA excels beyond industry benchmarks, reaching 1.23%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 1.46, Group 1 Automotive adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 4 Analyst Projections For Group 1 Automotive

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Bank of America Securities Sticks to Its Buy Rating for Group 1 Automotive (GPI)

Notable earnings before Wednesday's open

Group 1 Automotive Q2 2024 Earnings Preview

Group 1 Automotive Non-GAAP EPS of $9.80 beats by $0.44, revenue of $4.7B beats by $20M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Group 1 Automotive (NYSE:<a href="https://investorplace.com/stock-quotes/gpi-stock-quote/">GPI</a>) just reported results for the second quarter of 2024.<ul><li>Group 1 Automotive reported earnings per share of $9.80. This was above the analyst estimate for EPS of $9.36.</li><li>The company reported revenue of $4.70 billion.</li><li>This was 0.30% worse than the analyst estimate for revenue of $4.71 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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Seaport Global Sticks to Its Buy Rating for Group 1 Automotive (GPI)

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Press Releases

Group 1 Automotive Reports First Quarter 2024 Financial Results

Group 1 Automotive Upsizes Revolving Credit Facility to $2.5 Billion

Group 1 Automotive Board Approves New Share Repurchase Authorization & Declares Quarterly Dividend

CDK Extends Relationship With Group 1 Automotive

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Group 1 Automotive Expands in the U.K. with the Acquisition of Four Mercedes-Benz Dealerships

Group 1 Automotive Schedules Release of Second Quarter 2024 Financial Results

Group 1 Automotive Reports Second Quarter 2024 Financial Results

Group 1 Automotive Announces $500.0 Million Offering of Senior Notes

Group 1 Automotive Announces Pricing of $500.0 Million Offering of Senior Notes

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Group 1 Automotive

Group 1 Automotive (GPI) Forecast

Group 1 Automotive (NYSE:GPI) Stock, Quote.Headers.trade-ideas