Group 1 Automotive (NYSE:GPI) Price Target Cut to $310.00

Group 1 Automotive (NYSE:GPI) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $315.00 to $310.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 5.03% from the company’s current price.

A number of other brokerages have also issued reports on GPI. StockNews.com lowered Group 1 Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Morgan Stanley upgraded Group 1 Automotive from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $200.00 to $255.00 in a report on Thursday, February 29th. Stephens reiterated an “overweight” rating and set a $330.00 price target on shares of Group 1 Automotive in a research note on Tuesday, February 13th. Finally, Guggenheim raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective for the company in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $330.83.

Group 1 Automotive Price Performance

NYSE:GPI opened at $295.16 on Thursday. The company has a market capitalization of $3.99 billion, a P/E ratio of 6.97, a P/E/G ratio of 1.47 and a beta of 1.38. Group 1 Automotive has a 52 week low of $214.25 and a 52 week high of $310.08. The stock’s fifty day moving average is $276.48 and its two-hundred day moving average is $276.33. The company has a quick ratio of 0.33, a current ratio of 1.04 and a debt-to-equity ratio of 0.87.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 earnings per share for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%. The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the business earned $10.86 earnings per share. Group 1 Automotive’s revenue was up 10.6% on a year-over-year basis. Equities analysts expect that Group 1 Automotive will post 39.6 EPS for the current year.

Insider Buying and Selling at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the sale, the vice president now directly owns 11,535 shares in the company, valued at $3,398,557.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Institutional Trading of Group 1 Automotive

Institutional investors have recently modified their holdings of the stock. Principal Securities Inc. acquired a new position in Group 1 Automotive during the fourth quarter worth approximately $27,000. Parkside Financial Bank & Trust boosted its stake in Group 1 Automotive by 159.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock worth $33,000 after purchasing an additional 75 shares during the period. Gladius Capital Management LP purchased a new position in Group 1 Automotive during the 3rd quarter worth $37,000. Planned Solutions Inc. acquired a new position in Group 1 Automotive in the fourth quarter valued at $50,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Group 1 Automotive in the fourth quarter valued at about $53,000. 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.