Group 1 Automotive (NYSE:GPI) Price Target Raised to $495.00 at JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $420.00 to $495.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 3.43% from the stock's current price.

GPI has been the subject of several other reports. Stephens reaffirmed an "equal weight" rating and set a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. Guggenheim increased their price target on Group 1 Automotive from $420.00 to $442.00 and gave the company 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 issued a "buy" rating and a $500.00 price objective on the stock. Finally, StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $460.33.

Group 1 Automotive Trading Down 0.6 %

Shares of NYSE:GPI traded down $2.71 during midday trading on Friday, hitting $478.60. 92,978 shares of the stock were exchanged, compared to its average volume of 132,532. The business's 50-day moving average price is $440.33 and its 200 day moving average price is $398.79. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 13.02 and a beta of 1.36. Group 1 Automotive has a 12 month low of $258.77 and a 12 month high of $490.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, topping analysts' consensus estimates of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.25%. Analysts predict that Group 1 Automotive will post 40.86 earnings per share for the current year.

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

Insider Transactions at Group 1 Automotive

In other news, Director Lincoln Pereira sold 6,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $426.68, for a total value of $2,560,080.00. Following the completion of the sale, the director now directly owns 98,467 shares in the company, valued at $42,013,899.56. This trade represents a 5.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Group 1 Automotive by 119.4% during the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after acquiring an additional 37 shares in the last quarter. R Squared Ltd bought a new stake in Group 1 Automotive during the 4th quarter worth approximately $30,000. Assetmark Inc. raised its stake in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company's stock worth $31,000 after purchasing an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Group 1 Automotive in the third quarter valued at approximately $36,000. Finally, Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive in the third quarter valued at approximately $46,000. Institutional investors own 99.92% of the company's stock.

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.