JPMorgan Chase & Co. Cuts Group 1 Automotive (NYSE:GPI) Price Target to $410.00

Group 1 Automotive (NYSE:GPI) had its target price decreased by analysts at JPMorgan Chase & Co. from $435.00 to $410.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 3.92% from the stock’s previous close.

GPI has been the topic of a number of other reports. Zacks Research downgraded Group 1 Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Group 1 Automotive in a research report on Wednesday, October 8th. Morgan Stanley upped their price objective on Group 1 Automotive from $470.00 to $485.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Citigroup restated a “buy” rating on shares of Group 1 Automotive in a research report on Thursday, September 25th. Finally, Bank of America decreased their price objective on Group 1 Automotive from $560.00 to $545.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Group 1 Automotive currently has a consensus rating of “Moderate Buy” and an average price target of $474.43.

Group 1 Automotive Trading Up 1.6%

Shares of GPI stock traded up $6.03 during trading hours on Wednesday, reaching $394.52. The company’s stock had a trading volume of 132,941 shares, compared to its average volume of 181,954. The stock has a market capitalization of $4.98 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.09 and a beta of 0.85. Group 1 Automotive has a one year low of $355.91 and a one year high of $490.09. The firm’s fifty day simple moving average is $443.49 and its 200 day simple moving average is $436.78. The company has a current ratio of 1.06, a quick ratio of 0.24 and a debt-to-equity ratio of 1.06.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $10.45 earnings per share for the quarter, missing analysts’ consensus estimates of $10.64 by ($0.19). The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.67 billion. Group 1 Automotive had a return on equity of 18.08% and a net margin of 1.67%.Group 1 Automotive’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.90 earnings per share. Equities research analysts expect that Group 1 Automotive will post 41 EPS for the current year.

Insider Transactions at Group 1 Automotive

In other news, Director Lincoln Pereira sold 7,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the completion of the sale, the director owned 82,967 shares in the company, valued at approximately $38,939,731.78. This represents a 7.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Group 1 Automotive by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company’s stock worth $983,000 after purchasing an additional 903 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Group 1 Automotive by 46.0% during the first quarter. Teacher Retirement System of Texas now owns 4,790 shares of the company’s stock worth $1,830,000 after purchasing an additional 1,509 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Group 1 Automotive by 2.5% during the first quarter. Principal Financial Group Inc. now owns 69,255 shares of the company’s stock worth $26,452,000 after acquiring an additional 1,679 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of Group 1 Automotive by 23.0% during the first quarter. OneDigital Investment Advisors LLC now owns 771 shares of the company’s stock worth $294,000 after acquiring an additional 144 shares during the period. Finally, Sage Rhino Capital LLC increased its position in shares of Group 1 Automotive by 10.0% during the first quarter. Sage Rhino Capital LLC now owns 538 shares of the company’s stock worth $205,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.