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

Group 1 Automotive (NYSE:GPI) had its target price raised by JPMorgan Chase & Co. from $360.00 to $420.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on GPI. Morgan Stanley increased their target price on Group 1 Automotive from $260.00 to $285.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. Bank of America lowered their target price on Group 1 Automotive from $445.00 to $435.00 and set a buy rating on the stock in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $367.80.

Group 1 Automotive Trading Up 5.6 %

Shares of NYSE:GPI opened at $364.39 on Tuesday. The company has a market cap of $4.88 billion, a P/E ratio of 8.60, a PEG ratio of 1.72 and a beta of 1.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26. Group 1 Automotive has a 1 year low of $228.84 and a 1 year high of $379.45. The stock’s fifty day moving average price is $338.59 and its 200-day moving average price is $306.75.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the company posted $11.73 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts expect that Group 1 Automotive will post 39.26 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, August 30th. Group 1 Automotive’s payout ratio is 4.44%.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the sale, the vice president now owns 9,742 shares in the company, valued at $3,419,344.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company 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 the business. Arizona State Retirement System grew its position in shares of Group 1 Automotive by 0.9% during the second quarter. Arizona State Retirement System now owns 3,832 shares of the company’s stock worth $1,139,000 after purchasing an additional 33 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock worth $79,000 after purchasing an additional 39 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Group 1 Automotive by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock worth $848,000 after purchasing an additional 49 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Group 1 Automotive by 7.9% during the second quarter. Evergreen Capital Management LLC now owns 1,040 shares of the company’s stock worth $309,000 after purchasing an additional 76 shares in 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.