JPMorgan Chase & Co. Cuts Group 1 Automotive (NYSE:GPI) Price Target to $260.00

Group 1 Automotive (NYSE:GPI) had its target price reduced by JPMorgan Chase & Co. from $275.00 to $260.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on GPI. Morgan Stanley lowered Group 1 Automotive from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $300.00 to $232.00 in a research report on Monday. DA Davidson set a $425.00 price target on Group 1 Automotive in a report on Friday, July 10th. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Citigroup cut their price objective on shares of Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Finally, UBS Group decreased their price objective on shares of Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $341.67.

Group 1 Automotive Price Performance

Shares of GPI opened at $236.77 on Tuesday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. Group 1 Automotive has a twelve month low of $229.91 and a twelve month high of $461.27. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average of $264.15 and a two-hundred day moving average of $302.60.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the prior year, the firm posted $10.82 earnings per share. Group 1 Automotive’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, analysts predict that Group 1 Automotive will post 38.7 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio (DPR) is 9.16%.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $243.58 per share, with a total value of $32,511,109.76. Following the completion of the acquisition, the insider owned 1,772,050 shares in the company, valued at $431,635,939. This trade represents a 8.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 720,030 shares of company stock worth $187,264,264 in the last three months. Insiders own 2.40% of the company’s stock.

Institutional Trading of Group 1 Automotive

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in Group 1 Automotive during the second quarter valued at approximately $42,000. Anchor Investment Management LLC lifted its stake in shares of Group 1 Automotive by 112.0% in the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after purchasing an additional 112 shares during the period. Allworth Financial LP purchased a new stake in Group 1 Automotive during the second quarter worth $75,000. Group One Trading LLC acquired a new stake in Group 1 Automotive during the second quarter valued at $79,000. Finally, Global Retirement Partners LLC acquired a new stake in Group 1 Automotive during the second quarter valued at $81,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc is an international automotive retailer that operates franchised automobile dealerships. The company sells new and used vehicles from a range of manufacturers and provides related automotive services, including vehicle maintenance and repairs, parts and accessories, financing, and insurance products.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive serves customers through dealership operations in the United States and the United Kingdom, as well as other international markets.