Group 1 Automotive (NYSE:GPI) Price Target Raised to $390.00

Group 1 Automotive (NYSE:GPI) had its price objective increased by JPMorgan Chase & Co. from $385.00 to $390.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the company. Benchmark raised Group 1 Automotive from a “hold” rating to a “buy” rating and set a $425.00 target price on the stock in a report on Monday, March 30th. Morgan Stanley dropped their target price on shares of Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Barclays lifted their target price on shares of Group 1 Automotive from $455.00 to $470.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup lowered their price target on shares of Group 1 Automotive from $490.00 to $420.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Bank of America started coverage on shares of Group 1 Automotive in a research note on Wednesday, March 4th. They set a “buy” rating for the company. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $450.00.

Group 1 Automotive Stock Performance

GPI opened at $356.86 on Thursday. The stock has a market cap of $4.25 billion, a P/E ratio of 13.63, a P/E/G ratio of 0.82 and a beta of 0.87. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.95 and a quick ratio of 0.21. The stock’s 50 day simple moving average is $329.20 and its 200 day simple moving average is $368.49. Group 1 Automotive has a 1-year low of $292.44 and a 1-year high of $488.39.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, April 30th. The company reported $8.66 earnings per share for the quarter, missing analysts’ consensus estimates of $8.82 by ($0.16). The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.42 billion. Group 1 Automotive had a return on equity of 16.63% and a net margin of 1.46%.The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.17 EPS. As a group, equities analysts anticipate that Group 1 Automotive will post 42.29 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.55 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.50. Group 1 Automotive’s dividend payout ratio (DPR) is 8.40%.

Institutional Investors Weigh In On Group 1 Automotive

Several hedge funds have recently modified their holdings of GPI. Northwestern Mutual Wealth Management Co. raised its position in shares of Group 1 Automotive by 366,770.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 25,431,464 shares of the company’s stock valued at $10,002,195,000 after buying an additional 25,424,532 shares during the last quarter. Norges Bank acquired a new stake in Group 1 Automotive during the fourth quarter worth approximately $98,125,000. Massachusetts Financial Services Co. MA acquired a new stake in Group 1 Automotive during the third quarter worth approximately $75,315,000. Franklin Resources Inc. grew its stake in Group 1 Automotive by 968.8% in the 3rd quarter. Franklin Resources Inc. now owns 84,412 shares of the company’s stock worth $36,931,000 after acquiring an additional 76,514 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Group 1 Automotive by 34.8% in the 3rd quarter. Victory Capital Management Inc. now owns 226,915 shares of the company’s stock worth $99,278,000 after acquiring an additional 58,641 shares during the period. 99.92% of the stock is owned by institutional investors and hedge funds.

About Group 1 Automotive

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.