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

Group 1 Automotive (NYSE:GPI) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $425.00 to $420.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 6.00% from the company’s previous close.

Several other brokerages also recently issued reports on GPI. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group began coverage on shares of Group 1 Automotive in a research report on Friday, December 13th. They set a “buy” rating and a $500.00 price target for the company. Finally, Guggenheim lifted their price objective on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.83.

Group 1 Automotive Stock Performance

Shares of GPI stock traded up $1.99 on Friday, hitting $446.79. 5,346 shares of the stock traded hands, compared to its average volume of 101,477. The company has a market capitalization of $5.95 billion, a PE ratio of 11.90 and a beta of 1.36. The company’s fifty day moving average is $422.04 and its 200 day moving average is $374.63. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. Group 1 Automotive has a 1-year low of $255.73 and a 1-year high of $449.58.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm posted $12.07 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts predict that Group 1 Automotive will post 38.36 earnings per share for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the transaction, the vice president now owns 6,259 shares in the company, valued at $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lincoln Pereira sold 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the sale, the director now owns 98,467 shares of the company’s stock, valued at $42,013,899.56. The trade was a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently bought and sold shares of the business. Perpetual Ltd lifted its position in shares of Group 1 Automotive by 88.4% during the fourth quarter. Perpetual Ltd now owns 2,069 shares of the company’s stock worth $872,000 after purchasing an additional 971 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Group 1 Automotive by 9.8% in the 4th quarter. Park Avenue Securities LLC now owns 2,355 shares of the company’s stock valued at $993,000 after purchasing an additional 210 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Group 1 Automotive in the 4th quarter worth $211,000. Range Financial Group LLC acquired a new stake in shares of Group 1 Automotive during the fourth quarter worth $416,000. Finally, GAMMA Investing LLC increased its holdings in Group 1 Automotive by 70.4% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock valued at $51,000 after purchasing an additional 50 shares during the last quarter. 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.