JPMorgan Chase & Co. Trims Group 1 Automotive (NYSE:GPI) Target Price to $310.00

Group 1 Automotive (NYSE:GPI) had its price target decreased by JPMorgan Chase & Co. from $315.00 to $310.00 in a research note issued to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

GPI has been the subject of a number of other reports. Stephens reiterated an overweight rating and set a $330.00 target price on shares of Group 1 Automotive in a research report on Tuesday, February 13th. StockNews.com cut shares of Group 1 Automotive from a buy rating to a hold rating in a research note on Thursday, February 1st. Guggenheim upgraded shares of Group 1 Automotive from a neutral rating to a buy rating and set a $305.00 target price on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley upgraded Group 1 Automotive from an underweight rating to an equal weight rating and lifted their price target for the stock from $200.00 to $255.00 in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $330.83.

Group 1 Automotive Stock Up 0.9 %

GPI opened at $295.04 on Thursday. The firm has a 50-day simple moving average of $276.48 and a two-hundred day simple moving average of $276.63. Group 1 Automotive has a 52 week low of $214.25 and a 52 week high of $310.08. The company has a market capitalization of $3.99 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38. The company has a quick ratio of 0.33, a current ratio of 1.04 and a debt-to-equity ratio of 0.87.

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.47 dividend. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, February 29th. Group 1 Automotive’s dividend payout ratio is 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total transaction of $412,482.00. Following the transaction, the vice president now owns 11,535 shares of the company’s stock, valued at $3,398,557.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its position in Group 1 Automotive by 146.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,207 shares of the company’s stock valued at $593,000 after buying an additional 1,312 shares during the period. Raymond James & Associates grew its stake in Group 1 Automotive by 6.3% in the third quarter. Raymond James & Associates now owns 29,204 shares of the company’s stock worth $7,847,000 after purchasing an additional 1,738 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Group 1 Automotive by 170.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,741 shares of the company’s stock worth $1,811,000 after purchasing an additional 4,246 shares during the period. Mackenzie Financial Corp raised its position in Group 1 Automotive by 13.5% during the 3rd quarter. Mackenzie Financial Corp now owns 1,519 shares of the company’s stock valued at $390,000 after purchasing an additional 181 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Group 1 Automotive by 22.2% in the 3rd quarter. Strs Ohio now owns 1,100 shares of the company’s stock worth $295,000 after buying an additional 200 shares during the period. 99.92% of the stock is currently owned by institutional investors.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.