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Group 1's (GPI) Texas Toyota Buyout to Generate $435M Annually
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Group 1 Automotive (GPI - Free Report) announced that it has acquired Charles Maund Toyota in Austin, TX. The dealership, which will be renamed Toyota of North Austin, features in the top 20 nationally in Toyota (TM - Free Report) new vehicle volume. It will strengthen Group 1’s existing portfolio of 13 franchises in the fast-growing Central Texas market area consisting of Austin and San Antonio. The dealership promises to generate $435 million in annual revenues and represents the 16th Toyota store in GPI’s U.S. portfolio.
The Austin metro market, with growth of more than 30% and an addition of over 500,000 residents, has become the nation's fastest-growing large metro area from 2010 to 2020 and stands a chance to break more ground. The strength of the Austin market, combined with that of Toyota’s, promises a lucrative growth pool for Group 1.
Group 1’s acquisitions of dealerships and franchises to expand and optimize its portfolio make it poised for robust prospects. In 2021, the company acquired Prime Automotive in the Northeastern United States and the Robinsons Group in the UK, which have diversified Group 1’s footprint and are set to buoy its top-line growth. In 2021, Group 1 completed transactions representing $2.5 billion of acquired revenues.
Shares of GPI have risen 15.3% over the past year, outperforming its industry’s 5.8% rise.
AutoNation has an expected earnings growth rate of 6.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 7.9% upward in the past 60 days.
AutoNation’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. AN pulled off a trailing four-quarter earnings surprise of 39.34%, on average. The stock has also rallied 27.7% over a year.
Asbury has an expected earnings growth rate of 27.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 18.8% upward in the past 60 days.
Asbury’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. ABG pulled off a trailing four-quarter earnings surprise of 29.6%, on average. The stock has gained 6.4% over a year.
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Group 1's (GPI) Texas Toyota Buyout to Generate $435M Annually
Group 1 Automotive (GPI - Free Report) announced that it has acquired Charles Maund Toyota in Austin, TX. The dealership, which will be renamed Toyota of North Austin, features in the top 20 nationally in Toyota (TM - Free Report) new vehicle volume. It will strengthen Group 1’s existing portfolio of 13 franchises in the fast-growing Central Texas market area consisting of Austin and San Antonio. The dealership promises to generate $435 million in annual revenues and represents the 16th Toyota store in GPI’s U.S. portfolio.
The Austin metro market, with growth of more than 30% and an addition of over 500,000 residents, has become the nation's fastest-growing large metro area from 2010 to 2020 and stands a chance to break more ground. The strength of the Austin market, combined with that of Toyota’s, promises a lucrative growth pool for Group 1.
Group 1’s acquisitions of dealerships and franchises to expand and optimize its portfolio make it poised for robust prospects. In 2021, the company acquired Prime Automotive in the Northeastern United States and the Robinsons Group in the UK, which have diversified Group 1’s footprint and are set to buoy its top-line growth. In 2021, Group 1 completed transactions representing $2.5 billion of acquired revenues.
Shares of GPI have risen 15.3% over the past year, outperforming its industry’s 5.8% rise.
Currently, GPI has a Zacks Rank #2 (Buy).
Image Source: Zacks Investment Research
Stocks to Consider
Better-ranked players in the auto retail-wholesale space include AutoNation (AN - Free Report) and Asbury Automotive Group (ABG - Free Report) , both sporting a Zacks Rank #1 (Strong Buy) currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
AutoNation has an expected earnings growth rate of 6.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 7.9% upward in the past 60 days.
AutoNation’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. AN pulled off a trailing four-quarter earnings surprise of 39.34%, on average. The stock has also rallied 27.7% over a year.
Asbury has an expected earnings growth rate of 27.8% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 18.8% upward in the past 60 days.
Asbury’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. ABG pulled off a trailing four-quarter earnings surprise of 29.6%, on average. The stock has gained 6.4% over a year.