Group 1 Automotive (NYSE:GPI) Price Target Raised to $425.00 at JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from $420.00 to $425.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 4.39% from the stock’s previous close.

A number of other analysts have also issued reports on GPI. Stephens began coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target on the stock. Bank of America lowered their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $397.80.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $407.12 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.26 and a current ratio of 1.00. The stock has a market capitalization of $5.42 billion, a PE ratio of 10.85, a P/E/G ratio of 1.88 and a beta of 1.33. Group 1 Automotive has a fifty-two week low of $255.73 and a fifty-two week high of $413.21. The company has a fifty day moving average of $366.10 and a two-hundred day moving average of $332.93.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.07 EPS. As a group, research analysts forecast that Group 1 Automotive will post 38.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $350.99, for a total transaction of $421,188.00. Following the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Group 1 Automotive

Several institutional investors have recently made changes to their positions in GPI. The Manufacturers Life Insurance Company grew its position in Group 1 Automotive by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares during the period. Woodson Capital Management LP lifted its stake in shares of Group 1 Automotive by 114.6% in the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after purchasing an additional 76,102 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Group 1 Automotive by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after purchasing an additional 16,600 shares during the period. Shellback Capital LP increased its position in shares of Group 1 Automotive by 27.1% during the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after purchasing an additional 20,302 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Group 1 Automotive by 57.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after purchasing an additional 23,051 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

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.