JPMorgan Chase & Co. Boosts Group 1 Automotive (NYSE:GPI) Price Target to $420.00

Group 1 Automotive (NYSE:GPI) had its target price hoisted by JPMorgan Chase & Co. from $360.00 to $420.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

GPI has been the topic of several other research reports. Bank of America cut their target price 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. Morgan Stanley boosted their price objective on shares of Group 1 Automotive from $260.00 to $285.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $367.80.

Group 1 Automotive Stock Up 1.6 %

Shares of GPI opened at $345.52 on Tuesday. The firm has a market cap of $4.68 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.82 and a beta of 1.33. Group 1 Automotive has a 1 year low of $228.84 and a 1 year high of $379.45. The stock has a 50 day simple moving average of $337.54 and a two-hundred day simple moving average of $306.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, beating the consensus estimate of $9.36 by $0.44. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.68 billion. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $11.73 EPS. On average, analysts forecast that Group 1 Automotive will post 39.26 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a $0.47 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 0.54%. Group 1 Automotive’s dividend payout ratio is 4.44%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the transaction, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Group 1 Automotive

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Group 1 Automotive during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC boosted its stake in Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after acquiring an additional 51 shares in the last quarter. Headlands Technologies LLC bought a new stake in Group 1 Automotive during the second quarter worth about $48,000. EverSource Wealth Advisors LLC increased its stake in shares of Group 1 Automotive by 37.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock valued at $65,000 after purchasing an additional 58 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Group 1 Automotive by 47.5% during the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock valued at $79,000 after purchasing an additional 87 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

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.