Morgan Stanley Raises Group 1 Automotive (NYSE:GPI) Price Target to $285.00

Group 1 Automotive (NYSE:GPI) had its target price raised by investment analysts at Morgan Stanley from $260.00 to $285.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 15.98% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Bank of America reduced their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective on the stock in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Group 1 Automotive from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Group 1 Automotive has a consensus rating of “Moderate Buy” and an average target price of $343.00.

Group 1 Automotive Price Performance

Shares of GPI stock traded down $5.82 during trading hours on Wednesday, hitting $339.20. 5,744 shares of the company’s stock were exchanged, compared to its average volume of 135,010. The firm has a 50 day moving average of $312.78 and a two-hundred day moving average of $293.38. Group 1 Automotive has a fifty-two week low of $228.84 and a fifty-two week high of $373.19. The firm has a market cap of $4.59 billion, a P/E ratio of 8.01, a P/E/G ratio of 1.84 and a beta of 1.35. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The business had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same quarter last year, the business earned $11.73 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that Group 1 Automotive will post 38.28 EPS for the current year.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, CFO Daniel James Mchenry sold 2,437 shares of Group 1 Automotive stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Group 1 Automotive news, VP Edward Mckissic sold 170 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $318.92, for a total value of $54,216.40. Following the sale, the vice president now owns 6,082 shares of the company’s stock, valued at $1,939,671.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel James Mchenry sold 2,437 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $309.61, for a total value of $754,519.57. Following the transaction, the chief financial officer now owns 22,430 shares in the company, valued at $6,944,552.30. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Group 1 Automotive during the fourth quarter worth about $46,923,000. Hennessy Advisors Inc. purchased a new stake in Group 1 Automotive during the 4th quarter worth approximately $24,562,000. 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 during the period. Wellington Management Group LLP purchased a new position in Group 1 Automotive in the 4th quarter valued at approximately $21,296,000. Finally, Intrinsic Edge Capital Management LLC grew its stake 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 worth $25,893,000 after acquiring an additional 33,901 shares in the last quarter. Institutional investors and hedge funds 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.