JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Group 1 Automotive (NYSE:GPI) Stock

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

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

Group 1 Automotive Price Performance

NYSE GPI opened at $407.12 on Tuesday. The firm’s fifty day simple moving average is $366.10 and its two-hundred day simple moving average is $332.93. The firm has a market capitalization of $5.42 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.88 and a beta of 1.33. The company has a current ratio of 1.00, a quick ratio of 0.26 and a debt-to-equity ratio of 0.91. Group 1 Automotive has a 12-month low of $255.73 and a 12-month high of $413.21.

Group 1 Automotive (NYSE:GPI) last announced its 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. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the previous year, the business earned $12.07 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts forecast that Group 1 Automotive will post 38.99 EPS for the current fiscal year.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Michael David Jones sold 1,200 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now owns 9,742 shares in the company, valued at $3,419,344.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Group 1 Automotive

A number of hedge funds have recently modified their holdings of the stock. Assetmark Inc. lifted its holdings in Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after acquiring an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Group 1 Automotive during the third quarter worth $36,000. Hexagon Capital Partners LLC grew its position in Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after buying an additional 51 shares during the period. Headlands Technologies LLC acquired a new stake in Group 1 Automotive during the second quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Group 1 Automotive by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock worth $79,000 after acquiring an additional 39 shares during the period. 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.