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Group 1 Automotive (GPI) Soars 3.1%: Is Further Upside Left in the Stock?
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Group 1 Automotive (GPI - Free Report) shares rallied 3.1% in the last trading session to close at $480.13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.2% gain over the past four weeks.
Group 1’s shares surged, driven by the company’s effort to expand and optimize its portfolio through acquisitions of dealerships and franchises. In 2024, the company closed the Inchcape buyout, which is expected to add $2.7 billion in annualized revenues. Total acquired revenues in 2024 reached $3.9 billion. Year to date, GPI has acquired $430 million in annualized revenues.
This auto dealer is expected to post quarterly earnings of $10.16 per share in its upcoming report, which represents a year-over-year change of +3.7%. Revenues are expected to be $5.51 billion, up 17.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Group 1 Automotive, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GPI going forward to see if this recent jump can turn into more strength down the road.
Group 1 Automotive is part of the Zacks Automotive - Retail and Whole Sales industry. AutoNation (AN - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $214.83. AN has returned 9.8% in the past month.
For AutoNation, the consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $4.62. This represents a change of +15.8% from what the company reported a year ago. AutoNation currently has a Zacks Rank of #3 (Hold).
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Group 1 Automotive (GPI) Soars 3.1%: Is Further Upside Left in the Stock?
Group 1 Automotive (GPI - Free Report) shares rallied 3.1% in the last trading session to close at $480.13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.2% gain over the past four weeks.
Group 1’s shares surged, driven by the company’s effort to expand and optimize its portfolio through acquisitions of dealerships and franchises. In 2024, the company closed the Inchcape buyout, which is expected to add $2.7 billion in annualized revenues. Total acquired revenues in 2024 reached $3.9 billion. Year to date, GPI has acquired $430 million in annualized revenues.
This auto dealer is expected to post quarterly earnings of $10.16 per share in its upcoming report, which represents a year-over-year change of +3.7%. Revenues are expected to be $5.51 billion, up 17.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Group 1 Automotive, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GPI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Group 1 Automotive is part of the Zacks Automotive - Retail and Whole Sales industry. AutoNation (AN - Free Report) , another stock in the same industry, closed the last trading session 0.7% higher at $214.83. AN has returned 9.8% in the past month.
For AutoNation, the consensus EPS estimate for the upcoming report has changed +0.7% over the past month to $4.62. This represents a change of +15.8% from what the company reported a year ago. AutoNation currently has a Zacks Rank of #3 (Hold).