JPMorgan Chase & Co. Cuts Group 1 Automotive (NYSE:GPI) Price Target to $435.00

Group 1 Automotive (NYSE:GPI) had its target price trimmed by JPMorgan Chase & Co. from $495.00 to $435.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on GPI. Jefferies Financial Group assumed coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 price objective for the company. Stephens restated an “equal weight” rating and issued a $460.00 price objective on shares of Group 1 Automotive in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $450.33.

Group 1 Automotive Trading Down 4.3 %

NYSE:GPI opened at $376.32 on Thursday. The company has a 50 day simple moving average of $442.80 and a two-hundred day simple moving average of $413.40. The company has a market cap of $4.98 billion, a PE ratio of 10.24 and a beta of 1.33. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Group 1 Automotive has a 12 month low of $262.31 and a 12 month high of $490.09.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, topping the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. Research analysts forecast that Group 1 Automotive will post 41 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.50 dividend. The ex-dividend date was Monday, March 3rd. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.47. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.53%. Group 1 Automotive’s dividend payout ratio (DPR) is 5.44%.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in Group 1 Automotive by 40.3% during the fourth quarter. Wellington Management Group LLP now owns 43,350 shares of the company’s stock worth $18,271,000 after acquiring an additional 12,444 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Group 1 Automotive during the 4th quarter valued at $9,659,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Group 1 Automotive by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,420 shares of the company’s stock worth $16,615,000 after buying an additional 5,850 shares during the last quarter. Shellback Capital LP boosted its stake in Group 1 Automotive by 15.0% during the fourth quarter. Shellback Capital LP now owns 92,025 shares of the company’s stock worth $38,787,000 after buying an additional 12,025 shares during the period. Finally, ProShare Advisors LLC increased its position in Group 1 Automotive by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 3,986 shares of the company’s stock valued at $1,680,000 after acquiring an additional 1,227 shares during the last quarter. Institutional investors 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.