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

Group 1 Automotive (NYSE:GPI) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $250.00 target price on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 5.86% from the company’s current price.

A number of other brokerages also recently weighed in on GPI. Citigroup cut their price target 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. Barclays reduced their price objective on Group 1 Automotive from $320.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. Jefferies Financial Group set a $250.00 price objective on Group 1 Automotive in a research note on Wednesday. UBS Group decreased 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, Seaport Research Partners set a $420.00 target price on Group 1 Automotive in a research report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $328.30.

Group 1 Automotive Stock Down 1.6%

Shares of GPI stock opened at $265.56 on Wednesday. Group 1 Automotive has a 1 year low of $224.65 and a 1 year high of $429.00. The stock has a market cap of $3.17 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96. The business’s fifty day moving average is $254.89 and its 200-day moving average 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 (NYSE:GPI) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $9.36 earnings per share for the quarter, missing the consensus estimate of $9.50 by ($0.14). The firm 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%. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $10.45 EPS. Equities analysts expect that Group 1 Automotive will post 37.40 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Conifer Management, L.L.C. acquired 133,472 shares of the stock in a transaction on Monday, September 28th. The shares were purchased at an average cost of $243.58 per share, for a total transaction of $32,511,109.76. Following the transaction, the insider owned 1,772,050 shares in the company, valued at approximately $431,635,939. This trade represents a 8.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 820,030 shares of company stock valued at $211,496,571. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Group 1 Automotive

Several hedge funds and other institutional investors have recently modified their holdings of GPI. Hohimer Wealth Management LLC purchased a new position in shares of Group 1 Automotive during the 3rd quarter valued at $202,000. Provenance Wealth Advisors LLC acquired a new position in shares of Group 1 Automotive in the third quarter worth $167,000. Garner Asset Management Corp acquired a new position in shares of Group 1 Automotive in the third quarter worth $1,537,000. Salomon & Ludwin LLC raised its holdings in shares of Group 1 Automotive by 445.8% during the third quarter. Salomon & Ludwin LLC now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 107 shares in the last quarter. Finally, Leeward Investments LLC MA raised its holdings in shares of Group 1 Automotive by 7.8% during the third quarter. Leeward Investments LLC MA now owns 57,283 shares of the company’s stock worth $13,773,000 after acquiring an additional 4,150 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

About Group 1 Automotive

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.