JPMorgan Chase & Co. Cuts Group 1 Automotive (NYSE:GPI) Price Target to $370.00

by · The Markets Daily

Group 1 Automotive (NYSE:GPI – Free Report) had its target price lowered by JPMorgan Chase & Co. from $410.00 to $370.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

GPI has been the topic of a number of other research reports. Benchmark reaffirmed a “hold” rating on shares of Group 1 Automotive in a report on Friday, January 9th. Weiss Ratings downgraded Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Evercore assumed coverage on Group 1 Automotive in a research report on Tuesday, January 20th. They set an “outperform” rating and a $500.00 price target on the stock. Barclays set a $470.00 price objective on Group 1 Automotive in a report on Monday, February 2nd. Finally, Morgan Stanley set a $460.00 price objective on shares of Group 1 Automotive in a report on Monday, December 8th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Group 1 Automotive currently has an average rating of “Moderate Buy” and a consensus price target of $466.57.

Check Out Our Latest Stock Analysis on Group 1 Automotive

Group 1 Automotive Price Performance

Shares of NYSE GPI opened at $335.81 on Tuesday. The company has a market capitalization of $4.24 billion, a PE ratio of 13.43 and a beta of 0.90. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $389.88 and its 200-day moving average price is $416.41. Group 1 Automotive has a twelve month low of $331.59 and a twelve month high of $490.09.

Group 1 Automotive (NYSE:GPI – Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $8.49 EPS for the quarter, missing analysts’ consensus estimates of $9.36 by ($0.87). The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Group 1 Automotive had a net margin of 1.44% and a return on equity of 17.00%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $10.02 earnings per share. On average, equities analysts anticipate that Group 1 Automotive will post 41 EPS for the current year.

Group 1 Automotive declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 0.7%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 8.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new stake in Group 1 Automotive during the third quarter valued at approximately $26,000. Signaturefd LLC lifted its holdings in shares of Group 1 Automotive by 54.9% during the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock worth $31,000 after acquiring an additional 28 shares during the last quarter. MAI Capital Management grew its position in Group 1 Automotive by 131.3% in the second quarter. MAI Capital Management now owns 74 shares of the company’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. First Horizon Corp increased its stake in Group 1 Automotive by 881.8% in the fourth quarter. First Horizon Corp now owns 108 shares of the company’s stock valued at $42,000 after acquiring an additional 97 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Group 1 Automotive during the second quarter valued at about $43,000. 99.92% of the stock is currently owned by institutional investors.

About Group 1 Automotive

(Get Free Report)

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.

Featured Stories