Group 1 Automotive (NYSE:GPI) Hits New 1-Year High After Analyst Upgrade

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) shares hit a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $420.00 to $425.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Group 1 Automotive traded as high as $399.00 and last traded at $399.00, with a volume of 5918 shares changing hands. The stock had previously closed at $376.41.

A number of other research analysts have also weighed in on GPI. Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 price objective on the stock. Bank of America cut their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a "buy" rating on the stock in a report on Monday, July 22nd. StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $397.80.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total transaction of $421,188.00. Following the completion of the transaction, the vice president now directly owns 9,742 shares of the company's stock, valued at $3,419,344.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Group 1 Automotive

A number of institutional investors have recently modified their holdings of GPI. The Manufacturers Life Insurance Company boosted its position in Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company's stock worth $190,004,000 after purchasing an additional 115,143 shares in the last quarter. Woodson Capital Management LP raised its stake in shares of Group 1 Automotive by 114.6% during the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company's stock worth $41,643,000 after buying an additional 76,102 shares during the period. Hennessy Advisors Inc. lifted its position in shares of Group 1 Automotive by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company's stock valued at $32,255,000 after buying an additional 16,600 shares in the last quarter. Shellback Capital LP grew its stake in Group 1 Automotive by 27.1% in the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company's stock valued at $28,331,000 after acquiring an additional 20,302 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Group 1 Automotive by 57.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company's stock worth $24,222,000 after acquiring an additional 23,051 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Price Performance

The stock's 50-day simple moving average is $365.37 and its two-hundred day simple moving average is $332.41. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.85 and a beta of 1.33. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.83%. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the firm earned $12.07 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that Group 1 Automotive, Inc. will post 38.99 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive's payout ratio is 5.01%.

Group 1 Automotive Company Profile

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.