JPMorgan Chase & Co. Raises Group 1 Automotive (NYSE:GPI) Price Target to $420.00

Group 1 Automotive (NYSE:GPI) had its price objective upped by JPMorgan Chase & Co. from $360.00 to $420.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 23.48% from the company’s previous close.

GPI has been the subject of several other research reports. Morgan Stanley lifted their target price on shares of Group 1 Automotive from $260.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Bank of America reduced their price objective on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average price target of $355.00.

Group 1 Automotive Trading Down 2.0 %

NYSE:GPI opened at $340.14 on Tuesday. Group 1 Automotive has a 12 month low of $228.84 and a 12 month high of $379.45. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $336.58 and its 200 day moving average is $306.24. The stock has a market capitalization of $4.56 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, beating analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The firm had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the firm earned $11.73 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Group 1 Automotive will post 39.26 earnings per share for the current year.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares in the company, valued at approximately $3,419,344.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Group 1 Automotive

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in Group 1 Automotive by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,754 shares of the company’s stock worth $45,941,000 after buying an additional 614 shares in the last quarter. Principal Securities Inc. purchased a new position in Group 1 Automotive in the fourth quarter worth $27,000. BNP Paribas Financial Markets increased its stake in Group 1 Automotive by 12.5% in the fourth quarter. BNP Paribas Financial Markets now owns 19,309 shares of the company’s stock valued at $5,884,000 after acquiring an additional 2,151 shares during the last quarter. QRG Capital Management Inc. raised its position in Group 1 Automotive by 18.1% during the fourth quarter. QRG Capital Management Inc. now owns 1,564 shares of the company’s stock valued at $477,000 after purchasing an additional 240 shares in the last quarter. Finally, Boston Partners lifted its stake in Group 1 Automotive by 66.3% during the fourth quarter. Boston Partners now owns 79,598 shares of the company’s stock worth $23,819,000 after purchasing an additional 31,739 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors.

About Group 1 Automotive

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.