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Upgrade Alert for Group 1 Automotive (GPI)

By David Diaz

Group 1 Automotive (NYSE:GPI) was upgraded from Neutral to Buy at Buckingham today. The stock closed yesterday at $59.56 on volume of 296,000 shares, below average daily volume of 491,000.

Group 1 Automotive, Inc., through its subsidiaries, owns and operates automobile dealerships. The Company sells new and used cars and light trucks, provides maintenance and repair services, and sells replacement parts. The Company also arranges related financing, insurance, and extended service contracts. Group 1 operates in Florida, Georgia, Colorado, Oklahoma, New Mexico, and Texas.

Over the past year, Group 1 Automotive has traded in a range of $47.30 to $97.34 and closed yesterday at $59.56, 26% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.3%.

Group 1 Automotive (NYSE:GPI) has potential upside of 73.8% based on a current price of $59.56 and analysts' consensus price target of $103.50. The stock should hit resistance at its 200-day moving average (MA) of $73.68, as well as support at its 50-day MA of $58.40.

SmarTrend is monitoring the recent change of momentum in Group 1 Automotive. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Group 1 Automotive in search of a potential trend change.

Keywords: analyst upgrades/downgrades group 1 automotive

Ticker(s): GPI