Group 1 Automotive (NYSE:GPI) Stock Rating Upgraded by Benchmark

Group 1 Automotive (NYSE:GPI) was upgraded by analysts at Benchmark from a “hold” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $425.00 price target on the stock. Benchmark’s price objective points to a potential upside of 28.32% from the company’s previous close.

Several other equities analysts have also recently commented on the company. Morgan Stanley reduced their target price on Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Weiss Ratings cut Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Barclays set a $470.00 price target on Group 1 Automotive in a research report on Monday, February 2nd. JPMorgan Chase & Co. upgraded shares of Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $370.00 price objective on the stock in a research report on Friday, February 20th. Finally, Bank of America started coverage on shares of Group 1 Automotive in a research note on Wednesday, March 4th. They issued a “buy” rating on the stock. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $453.88.

Group 1 Automotive Trading Up 0.8%

Shares of GPI stock opened at $331.20 on Monday. The company’s fifty day simple moving average is $336.85 and its two-hundred day simple moving average is $386.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.08 and a quick ratio of 0.27. Group 1 Automotive has a 1 year low of $292.44 and a 1 year high of $488.39. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.51 and a beta of 0.91.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, January 29th. The company reported $8.49 EPS for the quarter, missing the consensus estimate of $9.36 by ($0.87). Group 1 Automotive had a return on equity of 17.39% and a net margin of 1.44%.The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the business earned $10.02 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that Group 1 Automotive will post 41 earnings per share for the current year.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brevan Howard Capital Management LP increased its stake in Group 1 Automotive by 177.2% in the 3rd quarter. Brevan Howard Capital Management LP now owns 9,986 shares of the company’s stock worth $4,369,000 after purchasing an additional 6,384 shares during the period. Thrivent Financial for Lutherans lifted its position in Group 1 Automotive by 10.6% in the third quarter. Thrivent Financial for Lutherans now owns 131,085 shares of the company’s stock valued at $57,350,000 after purchasing an additional 12,566 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Group 1 Automotive by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 184,732 shares of the company’s stock valued at $80,822,000 after purchasing an additional 33,542 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $2,538,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Group 1 Automotive by 8.4% in the third quarter. Envestnet Asset Management Inc. now owns 48,517 shares of the company’s stock worth $21,226,000 after purchasing an additional 3,766 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.