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Group 1 Automotive (GPI) engages in the marketing and sale of automotive products and services. It sells new and used cars, light trucks, and vehicle parts. The company also provides vehicle financing services; service and insurance contract services; and automotive maintenance and repair services.
The company has operations located in metropolitan areas in the states of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, Oklahoma, South Carolina, and Texas in the United States; and in the towns of Brighton, Hailsham, and Worthing in the United Kingdom.
As of December 31, 2011, it owned and operated 131 franchises, representing 31 brands of automobiles, at 104 dealership locations and 25 collision service centers in the United States; and 10 franchises at 5 dealerships and 3 collision centers in the United Kingdom. Shares are heading higher in an upward "trading channel."
We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares.
52-Week Trading Range: $33.31 to $59.97
Last Trade: $54.40
Stop Loss: $51.68
Target Price: $59.84
GPI reached and exceeded our target. We closed the postion at $60.03
