JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Group 1 Automotive (NYSE:GPI) Stock

Group 1 Automotive (NYSE:GPI) had its price objective boosted by JPMorgan Chase & Co. from $385.00 to $390.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.91% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on GPI. Barclays boosted their target price on Group 1 Automotive from $455.00 to $470.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America began coverage on Group 1 Automotive in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Citigroup dropped their target price on Group 1 Automotive from $490.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Benchmark upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $425.00 target price for the company in a research report on Monday, March 30th. Finally, Morgan Stanley dropped their target price on Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $450.00.

Group 1 Automotive Price Performance

Group 1 Automotive stock traded up $4.52 on Thursday, reaching $348.49. The company’s stock had a trading volume of 67,212 shares, compared to its average volume of 175,128. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.21 and a current ratio of 0.95. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.79 and a beta of 0.87. The business’s fifty day moving average price is $328.89 and its 200 day moving average price is $369.08. Group 1 Automotive has a twelve month low of $292.44 and a twelve month high of $488.39.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $8.66 EPS for the quarter, missing analysts’ consensus estimates of $8.82 by ($0.16). The business 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%.Group 1 Automotive’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.17 EPS. Equities analysts expect that Group 1 Automotive will post 42.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Group 1 Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Group 1 Automotive by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,766 shares of the company’s stock valued at $2,966,000 after purchasing an additional 227 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Group 1 Automotive by 20.3% in the first quarter. Millennium Management LLC now owns 37,028 shares of the company’s stock worth $14,143,000 after acquiring an additional 6,239 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Group 1 Automotive in the first quarter worth about $229,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Group 1 Automotive by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,872 shares of the company’s stock worth $15,993,000 after acquiring an additional 2,452 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Group 1 Automotive by 46.7% in the second quarter. American Century Companies Inc. now owns 2,753 shares of the company’s stock worth $1,202,000 after acquiring an additional 877 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Company Profile

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.