Group 1 Automotive (NYSE:GPI) Price Target Lowered to $435.00 at Barclays

Key Points

• Barclays lowered Group 1 Automotive’s price target from $470 to $435, while keeping an overweight rating on the stock. The new target still implies about 45.4% upside from the current share price.
• Analyst views are mixed but generally constructive: Citigroup raised its target to $462 with a buy rating, while UBS and JPMorgan cut their targets. Overall, the stock has a Moderate Buy consensus and an average price target of $426.89.
• Group 1 Automotive recently posted slightly weaker-than-expected earnings, reporting $8.66 EPS versus estimates of $8.82 and revenue of $5.41 billion versus $5.42 billion expected. Shares were trading around $299.12, well below the consensus analyst target.

Group 1 Automotive (NYSE:GPI - Get Free Report) had its target price reduced by equities research analysts at Barclays from $470.00 to $435.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target points to a potential upside of 45.42% from the company's current price.

A number of other analysts also recently weighed in on the stock. Citigroup upped their price target on shares of Group 1 Automotive from $420.00 to $462.00 and gave the stock a "buy" rating in a report on Monday, May 11th. UBS Group lowered their price objective on shares of Group 1 Automotive from $338.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday. Weiss Ratings restated a "hold (c)" rating on shares of Group 1 Automotive in a research note on Friday, June 12th. Evercore set a $440.00 target price on Group 1 Automotive in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. decreased their price target on Group 1 Automotive from $390.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Group 1 Automotive currently has an average rating of "Moderate Buy" and a consensus target price of $426.89.

Group 1 Automotive Trading Up 1.2%

GPI opened at $299.12 on Wednesday. Group 1 Automotive has a twelve month low of $279.10 and a twelve month high of $488.39. The company has a 50-day simple moving average of $315.35 and a 200 day simple moving average of $337.79. The company has a quick ratio of 0.21, a current ratio of 0.95 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 0.78 and a beta of 0.83.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $8.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.82 by ($0.16). Group 1 Automotive had a return on equity of 16.63% and a net margin of 1.46%.The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the company earned $10.17 earnings per share. The company's quarterly revenue was down 1.8% on a year-over-year basis. Analysts predict that Group 1 Automotive will post 41.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its holdings in Group 1 Automotive by 6.1% during the second quarter. NewEdge Advisors LLC now owns 471 shares of the company's stock worth $206,000 after acquiring an additional 27 shares during the period. Signaturefd LLC grew its stake in 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 purchasing an additional 28 shares during the period. Lido Advisors LLC grew its stake in Group 1 Automotive by 3.4% in the 4th quarter. Lido Advisors LLC now owns 935 shares of the company's stock valued at $399,000 after purchasing an additional 31 shares during the period. Assetmark Inc. increased its position in shares of Group 1 Automotive by 40.5% during the 4th quarter. Assetmark Inc. now owns 118 shares of the company's stock valued at $46,000 after purchasing an additional 34 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of Group 1 Automotive by 3.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,156 shares of the company's stock valued at $505,000 after purchasing an additional 37 shares during the last quarter. 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.

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