Group 1 Automotive (NYSE:GPI) Price Target Cut to $545.00 by Analysts at Bank of America

Group 1 Automotive (NYSE:GPI) had its price target cut by Bank of America from $560.00 to $545.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

GPI has been the topic of a number of other reports. Zacks Research cut Group 1 Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Citigroup upped their price objective on Group 1 Automotive from $463.00 to $495.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Morgan Stanley upped their price objective on Group 1 Automotive from $470.00 to $485.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Finally, Wall Street Zen cut Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Group 1 Automotive presently has an average rating of “Hold” and a consensus target price of $476.57.

Group 1 Automotive Stock Down 0.7%

GPI stock opened at $471.35 on Wednesday. Group 1 Automotive has a fifty-two week low of $338.46 and a fifty-two week high of $490.09. The business’s 50 day moving average price is $447.13 and its two-hundred day moving average price is $429.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, July 24th. The company reported $11.52 EPS for the quarter, topping analysts’ consensus estimates of $10.31 by $1.21. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%.The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the firm posted $9.82 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, analysts forecast that Group 1 Automotive will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Group 1 Automotive’s payout ratio is 5.51%.

Insider Transactions at Group 1 Automotive

In related news, Director Lincoln Pereira sold 7,000 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the transaction, the director directly owned 82,967 shares of the company’s stock, valued at $38,939,731.78. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven Mizell sold 525 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total transaction of $219,439.50. Following the transaction, the director directly owned 8 shares in the company, valued at approximately $3,343.84. The trade was a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors have recently bought and sold shares of GPI. Captrust Financial Advisors increased its holdings in Group 1 Automotive by 4.2% during the fourth quarter. Captrust Financial Advisors now owns 571 shares of the company’s stock valued at $241,000 after buying an additional 23 shares during the period. Deutsche Bank AG grew its holdings in shares of Group 1 Automotive by 91.6% during the fourth quarter. Deutsche Bank AG now owns 33,869 shares of the company’s stock valued at $14,275,000 after buying an additional 16,191 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Group 1 Automotive by 9.1% during the fourth quarter. Janus Henderson Group PLC now owns 13,453 shares of the company’s stock valued at $5,674,000 after buying an additional 1,124 shares during the last quarter. Lazard Asset Management LLC grew its position in Group 1 Automotive by 36.0% during the 4th quarter. Lazard Asset Management LLC now owns 4,935 shares of the company’s stock worth $2,080,000 after purchasing an additional 1,305 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Group 1 Automotive by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,539 shares of the company’s stock valued at $3,178,000 after acquiring an additional 296 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

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.