JPMorgan Chase & Co. Has Lowered Expectations for Group 1 Automotive (NYSE:GPI) Stock Price

Group 1 Automotive (NYSE:GPI - Free Report) had its price target reduced by JPMorgan Chase & Co. from $425.00 to $420.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim lifted their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Jefferies Financial Group started coverage on Group 1 Automotive in a research note on Friday, December 13th. They set a "buy" rating and a $500.00 target price for the company. StockNews.com raised Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $436.83.

Group 1 Automotive Trading Up 0.7 %

NYSE:GPI traded up $3.04 during trading hours on Friday, hitting $447.84. 95,883 shares of the company were exchanged, compared to its average volume of 108,822. The company has a fifty day simple moving average of $422.96 and a 200 day simple moving average of $375.68. Group 1 Automotive has a one year low of $255.73 and a one year high of $449.58. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 11.93 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping analysts' consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the firm earned $12.07 earnings per share. The firm's quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Group 1 Automotive will post 38.36 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 2nd. Group 1 Automotive's dividend payout ratio is currently 5.01%.

Group 1 Automotive announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lincoln Pereira sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the sale, the director now owns 98,467 shares of the company's stock, valued at approximately $42,013,899.56. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Group 1 Automotive

Large investors have recently made changes to their positions in the business. Avior Wealth Management LLC raised its holdings in shares of Group 1 Automotive by 25.6% in the 4th quarter. Avior Wealth Management LLC now owns 152 shares of the company's stock worth $64,000 after purchasing an additional 31 shares during the period. Perpetual Ltd boosted its position in Group 1 Automotive by 88.4% during the fourth quarter. Perpetual Ltd now owns 2,069 shares of the company's stock worth $872,000 after purchasing an additional 971 shares during the period. Park Avenue Securities LLC increased its stake in shares of Group 1 Automotive by 9.8% in the fourth quarter. Park Avenue Securities LLC now owns 2,355 shares of the company's stock worth $993,000 after purchasing an additional 210 shares in the last quarter. Kathmere Capital Management LLC purchased a new position in shares of Group 1 Automotive in the fourth quarter worth about $211,000. Finally, Range Financial Group LLC purchased a new stake in shares of Group 1 Automotive during the 4th quarter valued at approximately $416,000. 99.92% of the stock is owned by hedge funds and other 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.