Group 1 Automotive (NYSE:GPI) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Group 1 Automotive (NYSE:GPI) from a neutral rating to an underweight rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $250.00 price objective on the stock, down from their prior price objective of $255.00.

Several other equities research analysts have also issued reports on the company. Seaport Research Partners set a $420.00 target price on Group 1 Automotive in a research report on Monday, August 3rd. Zacks Research cut shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Evercore set a $360.00 price objective on Group 1 Automotive in a report on Tuesday, August 4th. Barclays dropped their price objective 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. Finally, 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. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $328.30.

Group 1 Automotive Trading Down 1.7%

NYSE GPI opened at $261.99 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 1.32 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $255.14 and a two-hundred day moving average of $304.18. Group 1 Automotive has a 52 week low of $224.65 and a 52 week high of $429.00. The stock has a market capitalization of $3.13 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $9.36 EPS for the quarter, missing analysts’ consensus estimates of $9.50 by ($0.14). The business had revenue of $5.40 billion for 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 for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the business posted $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.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Group 1 Automotive’s dividend payout ratio is presently 6.96%.

Insider Transactions at Group 1 Automotive

In related news, major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was 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 directly owned 1,772,050 shares in the company, valued at $431,635,939. The trade was a 8.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have acquired 820,030 shares of company stock worth $211,496,571. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Group 1 Automotive

A number of hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC boosted its position in 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 purchasing an additional 107 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Group 1 Automotive during the second quarter valued at approximately $42,000. Anchor Investment Management LLC boosted its stake in Group 1 Automotive by 112.0% during the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock worth $62,000 after buying an additional 112 shares during the period. Allworth Financial LP acquired a new stake in shares of Group 1 Automotive in the 2nd quarter worth $75,000. Finally, Group One Trading LLC acquired a new stake in Group 1 Automotive in the 2nd quarter worth about $79,000. Institutional investors own 99.92% of the company’s stock.

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.