Group 1 Automotive (NYSE:GPI) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Group 1 Automotive (NYSE:GPI) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a $370.00 target price on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.59% from the stock’s current price.

Other research analysts have also issued research reports about the company. Evercore initiated coverage on Group 1 Automotive in a report on Tuesday, January 20th. They set an “outperform” rating and a $500.00 price objective on the stock. Morgan Stanley set a $460.00 price target on shares of Group 1 Automotive in a research note on Monday, December 8th. Barclays set a $470.00 price objective on shares of Group 1 Automotive in a research note on Monday, February 2nd. Benchmark restated a “hold” rating on shares of Group 1 Automotive in a research report on Friday, January 9th. Finally, Weiss Ratings cut shares of Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $466.57.

Group 1 Automotive Trading Down 1.3%

Shares of Group 1 Automotive stock opened at $331.57 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.08 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 13.26 and a beta of 0.90. Group 1 Automotive has a 52-week low of $324.49 and a 52-week high of $488.39. The company’s 50-day simple moving average is $381.82 and its 200-day simple moving average is $413.54.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, January 29th. The company reported $8.49 earnings per share for the quarter, missing analysts’ consensus estimates of $9.36 by ($0.87). The business had revenue of $5.58 billion during 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 17.39%. Group 1 Automotive’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.02 EPS. As a group, equities research analysts anticipate that Group 1 Automotive will post 41 earnings per share for the current year.

Group 1 Automotive announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 11th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GPI. Salomon & Ludwin LLC purchased a new stake in Group 1 Automotive in the 3rd quarter valued at approximately $26,000. Signaturefd LLC raised its holdings in shares of Group 1 Automotive by 54.9% in the fourth 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 lifted its position in shares of Group 1 Automotive by 131.3% in the second quarter. MAI Capital Management now owns 74 shares of the company’s stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. First Horizon Corp boosted its stake in shares of Group 1 Automotive by 881.8% during 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 2nd quarter worth about $43,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

About Group 1 Automotive

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.