Group 1 Automotive (NYSE:GPI) Given New $300.00 Price Target at Barclays

Key Points

• Barclays lowered its price target for Group 1 Automotive from $320 to $300 while maintaining an “overweight” rating, implying roughly 14.18% upside from the prior close.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and an average price target of $338.11, with five Buy, two Hold, and three Sell ratings.
• Group 1 Automotive recently missed quarterly expectations, reporting $9.36 in EPS versus $9.50 expected and revenue of $5.40 billion versus $5.58 billion estimated; shares traded around $262.75.

Group 1 Automotive (NYSE:GPI - Get Free Report) had its price objective lowered by investment analysts at Barclays from $320.00 to $300.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 14.18% from the stock's previous close.

Several other equities analysts have also recently issued reports on GPI. UBS Group decreased their price target on shares of Group 1 Automotive from $271.00 to $259.00 and set a "neutral" rating for the company in a research report on Thursday. Morgan Stanley lowered shares of Group 1 Automotive from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $300.00 to $232.00 in a report on Monday, October 5th. JPMorgan Chase & Co. reduced their price objective on shares of Group 1 Automotive from $275.00 to $260.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 6th. Zacks Research downgraded Group 1 Automotive from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Weiss Ratings downgraded Group 1 Automotive from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $338.11.

Group 1 Automotive Trading Up 1.1%

Shares of NYSE:GPI traded up $2.78 during midday trading on Friday, hitting $262.75. 29,111 shares of the stock were exchanged, compared to its average volume of 201,172. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 1.53 and a beta of 0.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02. The business's 50-day moving average price is $254.68 and its 200 day moving average price is $308.12. Group 1 Automotive has a 12 month low of $224.65 and a 12 month high of $429.00.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $9.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.50 by ($0.14). The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.58 billion. Group 1 Automotive had a net margin of 1.75% and a return on equity of 15.18%. The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $10.45 EPS. Analysts predict that Group 1 Automotive will post 37.68 earnings per share for the current year.

Insider Transactions at Group 1 Automotive

In other news, SVP Gillian A. Hobson sold 2,000 shares of the business's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $258.24, for a total value of $516,480.00. Following the transaction, the senior vice president directly owned 7,543 shares of the company's stock, valued at $1,947,904.32. The trade was a 20.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Conifer Management, L.L.C. bought 20,471 shares of the business's stock in a transaction that occurred on Monday, October 26th. The shares were acquired at an average price of $246.14 per share, for a total transaction of $5,038,731.94. Following the transaction, the insider owned 2,012,290 shares in the company, valued at $495,305,060.60. This represents a 1.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 820,030 shares of company stock valued at $211,496,571. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Group 1 Automotive

Several institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC lifted its holdings in shares of Group 1 Automotive by 445.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Group 1 Automotive in the 2nd quarter valued at $42,000. Anchor Investment Management LLC increased its stake in Group 1 Automotive by 112.0% during the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company's stock valued at $62,000 after purchasing an additional 112 shares in the last quarter. Allworth Financial LP bought a new stake in Group 1 Automotive during the 2nd quarter valued at $75,000. Finally, Group One Trading LLC bought a new stake in Group 1 Automotive during the 2nd quarter valued at $79,000. 99.92% of the stock is owned by institutional investors and hedge funds.

About Group 1 Automotive

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.

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