Group 1 Automotive (NYSE:GPI) Sets New 12-Month High on Analyst Upgrade

Group 1 Automotive, Inc. (NYSE:GPI)’s stock price reached 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 also recently commented on the stock. Bank of America lowered their price objective on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens assumed coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. Finally, StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. 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, Group 1 Automotive currently has an average rating of “Moderate Buy” and an average target price of $397.80.

Insider Transactions at Group 1 Automotive

In related news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the sale, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $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 accessible through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GPI. Assetmark Inc. grew its holdings in Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after purchasing an additional 28 shares during the last quarter. Arizona State Retirement System grew its stake in Group 1 Automotive by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 3,832 shares of the company’s stock valued at $1,139,000 after buying an additional 33 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Group 1 Automotive by 17.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock worth $79,000 after acquiring an additional 39 shares during the period. SummerHaven Investment Management LLC lifted its position in Group 1 Automotive by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock worth $848,000 after acquiring an additional 49 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after acquiring an additional 51 shares during the last quarter. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Price Performance

The company has a market capitalization of $5.42 billion, a P/E ratio of 10.85, a PEG ratio of 1.88 and a beta of 1.33. The stock’s fifty day simple moving average is $366.10 and its 200-day simple moving average is $332.93. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.26.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating the consensus estimate of $9.87 by $0.03. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.07 EPS. On average, equities analysts forecast that Group 1 Automotive, Inc. will post 38.99 earnings per share for the current fiscal year.

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.