Group 1 Automotive (NYSE:GPI) Stock Rating Lowered by JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $250.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 5.86% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a report on Monday, August 3rd. Citigroup decreased their price objective on shares of Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating for the company in a report on Monday, September 28th. Benchmark reissued a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. UBS Group cut their target price on Group 1 Automotive from $271.00 to $259.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Finally, Barclays cut their target price on Group 1 Automotive from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $328.30.

Group 1 Automotive Price Performance

Shares of GPI opened at $265.56 on Wednesday. The firm has a market cap of $3.17 billion, a PE ratio of 8.40, a PEG ratio of 2.09 and a beta of 0.96. The firm’s 50 day moving average price is $254.89 and its 200 day moving average price is $306.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.57 and a current ratio of 1.32. Group 1 Automotive has a twelve month low of $224.65 and a twelve month high of $429.00.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, October 28th. The company reported $9.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.50 by ($0.14). The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.58 billion. Group 1 Automotive had a net margin of 1.75% and a return on equity of 14.91%. Group 1 Automotive’s revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $10.45 earnings per share. As a group, research analysts expect that Group 1 Automotive will post 37.40 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were bought at an average price of $243.58 per share, with a total value of $32,511,109.76. Following the completion of the transaction, the insider directly owned 1,772,050 shares in the company, valued at $431,635,939. This trade represents a 8.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 820,030 shares of company stock worth $211,496,571 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Group 1 Automotive

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Group 1 Automotive in the 2nd quarter valued at $593,420,000. Conifer Management L.L.C. acquired a new position in Group 1 Automotive during the 2nd quarter worth $281,561,390. Lakewood Capital Management LP acquired a new position in Group 1 Automotive during the 2nd quarter worth $72,098,000. The Manufacturers Life Insurance Company acquired a new position in Group 1 Automotive during the 2nd quarter worth $57,174,000. Finally, Bank of New York Mellon Corp bought a new stake in Group 1 Automotive during the second quarter valued at about $27,000,000. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.