Group 1 Automotive (NYSE:GPI) Given New $420.00 Price Target at JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI) had its price target boosted by JPMorgan Chase & Co. from $360.00 to $420.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently weighed in on GPI. Bank of America lowered their price objective on Group 1 Automotive from $445.00 to $435.00 and set a buy rating for the company in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on Group 1 Automotive from $260.00 to $285.00 and gave the company an equal weight rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $367.80.

Group 1 Automotive Stock Performance

Shares of GPI stock opened at $364.39 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02. Group 1 Automotive has a fifty-two week low of $228.84 and a fifty-two week high of $379.45. The stock has a 50 day moving average price of $338.59 and a two-hundred day moving average price of $306.75. The company has a market capitalization of $4.88 billion, a P/E ratio of 8.60, a PEG ratio of 1.72 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, beating the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The firm had revenue of $4.70 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the previous year, the company posted $11.73 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Analysts expect that Group 1 Automotive will post 39.26 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 0.52%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 4.44%.

Insider Buying and Selling

In related news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Group 1 Automotive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Group 1 Automotive in the fourth quarter worth $27,000. Hexagon Capital Partners LLC grew its stake in shares of Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after acquiring an additional 51 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Group 1 Automotive in the second quarter worth $48,000. EverSource Wealth Advisors LLC grew its stake in shares of Group 1 Automotive by 37.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock worth $65,000 after acquiring an additional 58 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Group 1 Automotive by 47.5% in the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after acquiring an additional 87 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

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.