Bank of America Trims Group 1 Automotive (NYSE:GPI) Target Price to $435.00

Group 1 Automotive (NYSE:GPI) had its target price dropped by equities research analysts at Bank of America from $445.00 to $435.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 42.36% from the company’s current price.

GPI has been the subject of a number of other research reports. Guggenheim raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their target price on Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $329.17.

Group 1 Automotive Stock Up 0.8 %

Shares of Group 1 Automotive stock traded up $2.52 during trading on Monday, reaching $305.56. The company’s stock had a trading volume of 29,475 shares, compared to its average volume of 133,549. The company has a 50-day simple moving average of $303.70 and a two-hundred day simple moving average of $286.09. Group 1 Automotive has a 1-year low of $228.84 and a 1-year high of $323.95. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 1.55 and a beta of 1.35. The company has a quick ratio of 0.27, a current ratio of 1.04 and a debt-to-equity ratio of 0.87.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $9.49 earnings per share for the quarter, missing analysts’ consensus estimates of $9.52 by ($0.03). The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Group 1 Automotive had a return on equity of 22.45% and a net margin of 3.23%. As a group, equities analysts forecast that Group 1 Automotive will post 38.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Daniel James Mchenry sold 2,437 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $309.61, for a total value of $754,519.57. Following the sale, the chief financial officer now owns 22,430 shares in the company, valued at $6,944,552.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Daniel James Mchenry sold 2,437 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total value of $754,519.57. Following the completion of the transaction, the chief financial officer now directly owns 22,430 shares in the company, valued at approximately $6,944,552.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Edward Mckissic sold 170 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $318.92, for a total transaction of $54,216.40. Following the sale, the vice president now directly owns 6,082 shares in the company, valued at $1,939,671.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,007 shares of company stock valued at $1,221,218. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds have recently bought and sold shares of GPI. Norges Bank purchased a new stake in shares of Group 1 Automotive in the fourth quarter valued at approximately $46,923,000. Charles Schwab Investment Management Inc. boosted its holdings in Group 1 Automotive by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,754 shares of the company’s stock worth $45,941,000 after buying an additional 614 shares during the last quarter. Woodson Capital Management LP increased its stake in Group 1 Automotive by 114.6% during the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock worth $41,643,000 after buying an additional 76,102 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of Group 1 Automotive by 14.0% during the first quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock valued at $26,856,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC lifted its position in shares of Group 1 Automotive by 66.4% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 84,968 shares of the company’s stock valued at $25,893,000 after acquiring an additional 33,901 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.