Group 1 Automotive (NYSE:GPI) Price Target Cut to $420.00 by Analysts at JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI) had its price target decreased by JPMorgan Chase & Co. from $425.00 to $420.00 in a research report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

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

Group 1 Automotive Stock Performance

GPI opened at $447.84 on Friday. The stock has a market cap of $5.97 billion, a PE ratio of 11.93 and a beta of 1.36. Group 1 Automotive has a 1 year low of $255.73 and a 1 year high of $449.58. The stock’s 50 day simple moving average is $422.96 and its 200-day simple moving average is $375.68. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the company posted $12.07 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Group 1 Automotive will post 38.36 EPS for the current year.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.42%. Group 1 Automotive’s dividend payout ratio is 5.01%.

Group 1 Automotive announced that its Board of Directors has approved a share repurchase program on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the firm’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. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lincoln Pereira sold 6,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $426.68, for a total value of $2,560,080.00. Following the sale, the director now directly owns 98,467 shares of the company’s stock, valued at $42,013,899.56. This represents 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 have recently modified their holdings of the business. Assetmark Inc. boosted its stake 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 last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Group 1 Automotive in the 3rd quarter valued at $36,000. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive in the 3rd quarter worth $46,000. GAMMA Investing LLC grew its stake in shares of Group 1 Automotive by 70.4% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock worth $51,000 after purchasing an additional 50 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Group 1 Automotive by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds 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.