Group 1 Automotive (NYSE:GPI) Price Target Cut to $435.00 by Analysts at JPMorgan Chase & Co.

Group 1 Automotive (NYSE:GPI) had its price objective trimmed by JPMorgan Chase & Co. from $495.00 to $435.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on GPI. Jefferies Financial Group initiated coverage on Group 1 Automotive in a report on Friday, December 13th. They issued a “buy” rating and a $500.00 price target on the stock. Stephens reiterated an “equal weight” rating and issued a $460.00 target price on shares of Group 1 Automotive in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $450.33.

Group 1 Automotive Stock Down 4.3 %

Shares of NYSE:GPI opened at $376.32 on Thursday. The stock has a market cap of $4.98 billion, a P/E ratio of 10.24 and a beta of 1.33. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 0.92. Group 1 Automotive has a 52-week low of $262.31 and a 52-week high of $490.09. The business’s 50 day moving average is $442.80 and its 200 day moving average is $413.40.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, January 29th. The company reported $10.02 EPS for the quarter, beating 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 18.09%. Sell-side analysts predict that Group 1 Automotive will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, March 3rd. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.47. Group 1 Automotive’s payout ratio is currently 5.44%.

Institutional Investors Weigh In On Group 1 Automotive

Several institutional investors and hedge funds have recently made changes to their positions in GPI. State Street Corp lifted its position in Group 1 Automotive by 2.1% during the 3rd quarter. State Street Corp now owns 541,766 shares of the company’s stock worth $207,518,000 after acquiring an additional 10,969 shares during the period. FMR LLC boosted its position in Group 1 Automotive by 26.4% in the fourth quarter. FMR LLC now owns 515,593 shares of the company’s stock valued at $217,312,000 after buying an additional 107,663 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Group 1 Automotive by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 396,401 shares of the company’s stock worth $167,075,000 after buying an additional 9,587 shares during the period. Geode Capital Management LLC raised its position in Group 1 Automotive by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 305,602 shares of the company’s stock worth $117,080,000 after buying an additional 1,985 shares during the last quarter. Finally, Advent International L.P. boosted its holdings in shares of Group 1 Automotive by 65.7% in the 4th quarter. Advent International L.P. now owns 203,951 shares of the company’s stock valued at $85,961,000 after acquiring an additional 80,870 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

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.