May 13, 2021

LMP Automotive Holdings To Buy 70% Stake In Atlantic Automotive Group, Atlantic Central Storage

(RTTNews) – LMP Automotive Holdings, Inc. (LMPX), an online automobiles platform, Friday said agreed to buy 70% stake in New York’s Atlantic Automotive Group, and New York logistics and vehicle storage company, Atlantic Central Storage, in a deal valued at $608 million.

LMP Automotive Holdings, Inc. (LMPX), an online automobiles platform, Friday said agreed to buy 70% stake in New York’s Atlantic Automotive Group, and New York logistics and vehicle storage company, Atlantic Central Storage, in a deal valued at $608 million.

CFO Evan Bernstein said, “This acquisition is expected to add an estimated $1.6 billion in revenue, $38 million in net income, or $3.18 per share, on an annualized basis in 2021, combined with our currently contracted acquisitions which we expect to close beginning the end of next month and the following months.|

The company expects revenues post-closing to exceed $2.2 billion, generating about $55 million in net income

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Eaton Names Bo Yang President of Vehicle Group and eMobility, APAC Region

Power management company Eaton today announced that Bo Yang has been named president, APAC, Vehicle Group and eMobility. In this new role, he will be located in Shanghai, China, and continue to report to João Faria, president, Vehicle Group, Eaton. Yang will expand his responsibilities for the Vehicle and eMobility businesses to include the entire APAC region, with direct oversight for operations, sales performance, market development and revenue growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201008005537/en/

Eaton has named Bo Yang president of Vehicle Group and eMobility for the APAC region. (Photo: Business Wire)

“Bo’s had a tremendous impact on our business since joining Eaton,” said Faria. “His proven track record, combined with his global experience, market knowledge and technical expertise make him the right fit for this role.”

Yang joined Eaton’s Vehicle Group in January 2019 as vice president and general manager of China for

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Planning Group aims to have a voice at transportation meetings

The Ramona Community Planning Group will soon get the opportunity to be more involved in decision-making on regional transportation issues, particularly those associated with state Route 67.

A representative of the planning group is expected to be assigned to the Stakeholder Working Group of the San Vicente Comprehensive Multimodal Corridor Plan (CMCP) at its Nov. 5 meeting.

CMCPs take a holistic approach to studying transportation corridors such as SR-67 by considering each community’s geographic, demographic, economic and social factors, said Caltrans spokeswoman Cathryne Bruce-Johnson. One goal is to recommend transportation projects that achieve goals such as improving evacuation capabilities during an emergency, Bruce-Johnson said.

Caltrans District Division Chief Design Ross Cather described the CMCP as a planning document that can be used to obtain funding beyond just the environmental phase.

Ramona Community Planning Group member Dan Summers said at the Oct. 1 Planning Group meeting that he is anxious to

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Is Penske Automotive Group (PAG) Outperforming Other Retail-Wholesale Stocks This Year?

The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Penske Automotive Group (PAG) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.

Penske Automotive Group is one of 204 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the

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car

Hedge Funds Aren’t Crazy About Avis Budget Group Inc. (CAR) Anymore

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards Avis Budget Group Inc. (NASDAQ:CAR) and determine whether hedge funds skillfully traded this stock.

Is Avis Budget Group Inc. (NASDAQ:CAR) a buy right now? Investors who are in the know were getting less optimistic. The number of long hedge fund bets were cut by 2 lately. Avis Budget Group Inc. (NASDAQ:CAR)

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Solid Preliminary Results Drive Group 1 Automotive 20% Higher

What happened

Shares of Group 1 Automotive (NYSE:GPI), owner and operator of 186 automotive dealerships, jumped over 20% higher Tuesday after the company released preliminary third-quarter results that included a number of positive developments for investors.

So what

The COVID-19 pandemic hit the automotive industry with plunging showroom traffic and production disruptions that have had negative ripple effects since March. However, demand for new vehicles has broadly rebounded and Group 1 Automotive’s preliminary third-quarter results support the idea the industry is gaining momentum. Management expects third-quarter adjusted earnings per share to check in between $6.40 to $6.80, well above analysts’ estimates of $3.73 per share. The upbeat third-quarter earnings weren’t the only positive development as management noted that higher gross margin helped offset lower sales volumes. Management also announced a $200 million share repurchase authorization and expects to reinstate its quarterly cash dividend in mid-November.

rows of vehicles on a dealership lot

Image source: Getty Images.

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Alteryx, Group 1 Automotive: 5 Top Stock Gainers for Tuesday

Stocks were mixed Tuesday after Federal Reserve Chairman Jerome Powell warned the U.S. recovery would be weak without additional fiscal support from the government.

Here are some of the top stock gainers for Tuesday

1. Alteryx | Percentage Increase 26%

Alteryx  (AYX) – Get Report shares jumped after the data-analytics-software company raised its sales outlook and named a new CEO. Mark Anderson, a current board member, is succeeding co-founder Dean Stoecker.

2. Group 1 Automotive | Percentage Increase 15%

Group 1 Automotive  (GPI) – Get Report was climbing after the auto retailer offered positive guidance for the third quarter, announced a new $200 million share buyback program and said it would reinstate its quarterly cash dividend which was suspended during the pandemic. 

3. Endo International | Percentage Increase 16%

Endo International  (ENDP) – Get Report rose a day after Piper Sandler analyst David Amsellem

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Group 1 Automotive’s Debt Overview

Over the past three months, shares of Group 1 Automotive (NYSE: GPI) increased by 57.98%. Before we understand the importance of debt, let us look at how much debt Group 1 Automotive has.

Group 1 Automotive’s Debt

According to the Group 1 Automotive’s most recent balance sheet as reported on August 3, 2020, total debt is at $2.47 billion, with $1.36 billion in long-term debt and $1.11 billion in current debt. Adjusting for $72.70 million in cash-equivalents, the company has a net debt of $2.40 billion.

To understand the degree of financial leverage a company has, shareholders look at the debt ratio. Considering Group 1 Automotive’s $4.86 billion in total assets, the debt-ratio is at 0.51. As a rule of thumb, a debt-ratio more than one indicates that a considerable portion of debt is funded by assets. A higher debt-ratio can also imply that the company might be putting itself

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Group 1 Automotive shares jump premarket on upbeat guidance and news to reinstate quarterly dividend

MARKET PULSE

Group 1 Automotive Inc. shares (gpi) rose 3.5% in premarket trade Tuesday, after the car retailer offered upbeat guidance for the third quarter, unveiled a $200 million share buyback program and said it will reinstate its quarterly cash dividend which was suspended during the pandemic. The Houston-based company said it expects third-quarter per-share earnings of $6.25 to $6.65 and adjusted EPS of $6.50 to $6.80. The current FactSet consensus is for EPS of $3.73. The adjusted number excludes a $3.3 million pretax expense that is equal to 15 cents a share, for redeeming all previously issued 5.00% bonds due June 2022. The company expects higher gross margins on new and used cars in the U.S. has offset lower sales volumes. “Group 1’s U.K. operations also contributed to the significant third quarter profit improvement with vehicle sales and service levels recovering from the extensive lockdowns that occurred over April

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Group 1 Automotive Reports Preliminary Third Quarter 2020 Results, New Share Repurchase Authorization, and Intention to Reinstate Dividend

HOUSTON, Oct. 6, 2020 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, today reported preliminary financial results for the three months ended September 30, 2020. Group 1 expects diluted earnings per common share to be between $6.25 and $6.65, and adjusted diluted earnings per common share between $6.40 and $6.80. Adjusted earnings per share reflects the exclusion of the $3.3 million pre-tax expense or approximately $0.15 EPS impact of redeeming all previously issued 5.00% bonds due June 2022. This represents a 206% to 226% increase on a GAAP basis and a 112% to 125% increase on an adjusted basis as compared to third quarter 2019 results of $2.04 and $3.02, respectively.

This earnings increase represents a continuation of the solid profit performance of May and June 2020. Group 1 believes that new and used vehicle gross margins in the

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