JPMorgan Chase & Co. Increases Group 1 Automotive (NYSE:GPI) Price Target to $495.00

Group 1 Automotive (NYSE:GPI) had its price target increased by research analysts at JPMorgan Chase & Co. from $420.00 to $495.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 2.03% from the company’s previous close.

Several other equities research analysts have also recently weighed in on GPI. Guggenheim increased their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Stephens reiterated an “equal weight” rating and issued a $460.00 target price on shares of Group 1 Automotive in a research note on Thursday, January 30th. Jefferies Financial Group started coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They issued a “buy” rating and a $500.00 target price for the company. Finally, StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $460.33.

Group 1 Automotive Trading Up 2.5 %

Shares of NYSE:GPI opened at $485.13 on Friday. The company has a market cap of $6.46 billion, a P/E ratio of 13.16 and a beta of 1.36. The stock’s 50-day moving average is $437.06 and its 200-day moving average is $395.74. Group 1 Automotive has a 52-week low of $258.77 and a 52-week high of $489.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.25% and a net margin of 2.47%. Equities research analysts predict that Group 1 Automotive will post 40.86 earnings per share for the current year.

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

Insider Transactions at Group 1 Automotive

In other news, Director Lincoln Pereira sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the sale, the director now owns 98,467 shares of the company’s stock, valued at approximately $42,013,899.56. This trade represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Group 1 Automotive

Several hedge funds have recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after buying an additional 28 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Group 1 Automotive by 25.6% during the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock worth $64,000 after buying an additional 31 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Group 1 Automotive by 119.4% during the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after buying an additional 37 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Group 1 Automotive by 13.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 346 shares of the company’s stock valued at $146,000 after purchasing an additional 41 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in shares of Group 1 Automotive by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,536 shares of the company’s stock valued at $647,000 after purchasing an additional 41 shares in 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.