JPMorgan Chase & Co. Raises Group 1 Automotive (NYSE:GPI) Price Target to $425.00

Group 1 Automotive (NYSE:GPI) had its price target boosted by JPMorgan Chase & Co. from $420.00 to $425.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also issued reports on GPI. Bank of America decreased their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Stephens began coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price on the stock. Finally, StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Group 1 Automotive has an average rating of “Moderate Buy” and an average target price of $397.80.

Group 1 Automotive Trading Up 2.1 %

NYSE:GPI opened at $375.83 on Tuesday. Group 1 Automotive has a 52-week low of $255.73 and a 52-week high of $393.93. The company has a market capitalization of $5.04 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $365.37 and a 200-day simple moving average of $332.41.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.83% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the firm earned $12.07 EPS. Group 1 Automotive’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Group 1 Automotive will post 38.99 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.01%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the transaction, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. increased its position in shares of Group 1 Automotive by 32.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 3,225 shares of the company’s stock worth $1,235,000 after acquiring an additional 792 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Group 1 Automotive by 8.0% in the 3rd quarter. Victory Capital Management Inc. now owns 35,298 shares of the company’s stock valued at $13,521,000 after purchasing an additional 2,616 shares in the last quarter. Aigen Investment Management LP raised its position in Group 1 Automotive by 20.7% in the third quarter. Aigen Investment Management LP now owns 1,650 shares of the company’s stock valued at $632,000 after purchasing an additional 283 shares during the period. Atria Investments Inc raised its position in Group 1 Automotive by 2.6% in the third quarter. Atria Investments Inc now owns 2,225 shares of the company’s stock valued at $852,000 after purchasing an additional 57 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

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.