JPMorgan Chase & Co. Lowers Group 1 Automotive (NYSE:GPI) Price Target to $310.00

Group 1 Automotive (NYSE:GPI) had its price target decreased by JPMorgan Chase & Co. from $315.00 to $310.00 in a research report sent to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

GPI has been the subject of several other reports. StockNews.com lowered shares of Group 1 Automotive from a buy rating to a hold rating in a research report on Thursday, February 1st. Stephens reaffirmed an overweight rating and issued a $330.00 price target on shares of Group 1 Automotive in a report on Tuesday, February 13th. Morgan Stanley raised Group 1 Automotive from an underweight rating to an equal weight rating and upped their target price for the company from $200.00 to $255.00 in a research report on Thursday, February 29th. Finally, Guggenheim raised Group 1 Automotive from a neutral rating to a buy rating and set a $305.00 price target for the company in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Group 1 Automotive has a consensus rating of Moderate Buy and an average target price of $330.83.

Group 1 Automotive Stock Up 0.9 %

Shares of GPI traded up $2.63 during midday trading on Thursday, hitting $295.16. 101,285 shares of the company’s stock traded hands, compared to its average volume of 142,482. The company has a current ratio of 1.04, a quick ratio of 0.33 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.38. Group 1 Automotive has a 1 year low of $214.25 and a 1 year high of $310.08. The firm’s fifty day moving average is $276.48 and its 200-day moving average is $276.33.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 EPS for the quarter, missing analysts’ consensus estimates of $10.44 by ($0.94). Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%. The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same quarter last year, the business posted $10.86 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Group 1 Automotive will post 39.6 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.64%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, February 29th. Group 1 Automotive’s dividend payout ratio is presently 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,400 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the completion of the transaction, the vice president now owns 11,535 shares of the company’s stock, valued at approximately $3,398,557.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Group 1 Automotive

Large investors have recently made changes to their positions in the company. Principal Securities Inc. purchased a new position in Group 1 Automotive in the fourth quarter valued at $27,000. Parkside Financial Bank & Trust increased its stake in shares of Group 1 Automotive by 159.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Gladius Capital Management LP acquired a new position in Group 1 Automotive in the 3rd quarter worth about $37,000. Planned Solutions Inc. purchased a new position in Group 1 Automotive during the fourth quarter worth approximately $50,000. Finally, Anchor Investment Management LLC acquired a new stake in Group 1 Automotive in the fourth quarter valued at approximately $53,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

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.