Why Group 1 Automotive (GPI) Stock Might be a Great Pick
September 24, 2020
One stock that might be an intriguing choice for investors right now is Group 1 Automotive, Inc. GPI. This is because this security in the Automotive – Retail and Whole Sales space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Automotive – Retail and Whole Sales space as it currently has a Zacks Industry Rank of 2 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Group 1 Automotive is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Group 1 Automotive, Inc. Price and Consensus
Group 1 Automotive, Inc. price-consensus-chart | Group 1 Automotive, Inc. Quote
In fact, over the past month, current quarter estimates have risen from $3.17 per share to $3.24 per share, while current year estimates have risen from $11.39 per share to $12.43 per share. This has helped GPI to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.
So, if you are looking for a decent pick in a strong industry, consider Group 1 Automotive. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.