Group 1 Automotive (NYSE:GPI) Stock Rating Upgraded by JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $370.00 price objective on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 7.98% from the company’s current price.

GPI has been the subject of several other research reports. Barclays set a $470.00 target price on shares of Group 1 Automotive in a report on Monday, February 2nd. Evercore assumed coverage on Group 1 Automotive in a report on Tuesday, January 20th. They set an “outperform” rating and a $500.00 price objective for the company. Benchmark reiterated a “hold” rating on shares of Group 1 Automotive in a research note on Friday, January 9th. Weiss Ratings cut Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Finally, Morgan Stanley set a $460.00 price objective on Group 1 Automotive in a report on Monday, December 8th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $466.57.

Group 1 Automotive Stock Up 3.2%

GPI stock opened at $342.64 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.25 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $4.09 billion, a PE ratio of 13.70 and a beta of 0.90. Group 1 Automotive has a 1-year low of $324.49 and a 1-year high of $488.39. The business’s 50 day simple moving average is $380.41 and its 200 day simple moving average is $413.04.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, January 29th. The company reported $8.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.36 by ($0.87). Group 1 Automotive had a net margin of 1.44% and a return on equity of 17.39%. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the business earned $10.02 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Group 1 Automotive will post 41 EPS for the current year.

Group 1 Automotive declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC acquired a new stake in Group 1 Automotive during the third quarter worth about $26,000. Signaturefd LLC raised its position in shares of Group 1 Automotive by 54.9% in the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Group 1 Automotive by 131.3% during the 2nd quarter. MAI Capital Management now owns 74 shares of the company’s stock worth $32,000 after acquiring an additional 42 shares during the period. First Horizon Corp boosted its position in shares of Group 1 Automotive by 881.8% during the 4th quarter. First Horizon Corp now owns 108 shares of the company’s stock worth $42,000 after acquiring an additional 97 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Group 1 Automotive during the 2nd quarter worth approximately $43,000. Institutional investors own 99.92% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.