Group 1 Automotive Downgraded to “Underweight” at Morgan Stanley (GPI)
Group 1 Automotive (NYSE:GPI) was downgraded by Morgan Stanley from an “overweight” rating to an “underweight” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $64.00 price objective on the stock, down from their previous price objective of $66.00. Morgan Stanley’s target price suggests a potential downside of 5.47% from the stock’s previous close.
Group 1 Automotive (NYSE:GPI) traded down 4.39% on Tuesday, hitting $67.70. The stock had a trading volume of 842,491 shares. Group 1 Automotive has a one year low of $54.91 and a one year high of $82.40. The stock’s 50-day moving average is $77.80 and its 200-day moving average is $68.22. The company has a market cap of $1.577 billion and a P/E ratio of 16.27.
Group 1 Automotive (NYSE:GPI) last released its earnings data on Thursday, July 25th. The company reported $1.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.41 by $0.11. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts expect that Group 1 Automotive will post $5.37 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Stephens downgraded shares of Group 1 Automotive from an “overweight” rating to an “equal weight” rating in a research note to investors on Friday. Separately, analysts at Zacks upgraded shares of Group 1 Automotive from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, October 2nd. They now have a $82.70 price target on the stock. Finally, analysts at Buckingham Research downgraded shares of Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $79.03.
Group 1 Automotive, Inc is an operator in the automotive retailing industry. As of December 31, 2011, the Company owned and operated 131 franchises, representing 31 brands of automobiles, at 104 dealership locations and 25 collision service centers in the United States of America and 10 franchises at five dealerships and three collision centers in the United Kingdom.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.