Group 1 Automotive (NYSE:GPI) Stock Price Expected to Rise, Bank of America Analyst Says

Group 1 Automotive (NYSE:GPI - Get Free Report) had its price objective raised by research analysts at Bank of America from $510.00 to $565.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target would indicate a potential upside of 29.63% from the company's previous close.

Several other research firms have also recently weighed in on GPI. Citigroup boosted their target price on Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Guggenheim downgraded shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Wall Street Zen raised shares of Group 1 Automotive from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $473.00.

Group 1 Automotive Stock Up 2.6%

NYSE:GPI traded up $11.01 during mid-day trading on Monday, hitting $435.87. The stock had a trading volume of 10,343 shares, compared to its average volume of 143,119. Group 1 Automotive has a twelve month low of $279.86 and a twelve month high of $490.09. The stock has a 50-day simple moving average of $418.35 and a two-hundred day simple moving average of $427.07. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $5.64 billion, a PE ratio of 11.84 and a beta of 0.91.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $10.17 earnings per share for the quarter, beating analysts' consensus estimates of $9.68 by $0.49. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.37 billion. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. The company's revenue was up 23.1% on a year-over-year basis. During the same period last year, the business earned $9.49 EPS. On average, equities research analysts anticipate that Group 1 Automotive will post 41 EPS for the current year.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $441.71, for a total value of $1,325,130.00. Following the completion of the transaction, the chief financial officer now directly owns 16,674 shares of the company's stock, valued at approximately $7,365,072.54. This trade represents a 15.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael David Jones sold 1,613 shares of Group 1 Automotive stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $405.57, for a total transaction of $654,184.41. Following the sale, the vice president now owns 8,260 shares of the company's stock, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Group 1 Automotive

A number of institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of Group 1 Automotive by 119.4% during the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after buying an additional 37 shares during the last quarter. Elequin Capital LP acquired a new position in Group 1 Automotive during the first quarter worth about $29,000. Fifth Third Bancorp lifted its holdings in shares of Group 1 Automotive by 24.8% in the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock valued at $56,000 after purchasing an additional 29 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Group 1 Automotive in the first quarter valued at approximately $64,000. Finally, Global Retirement Partners LLC increased its stake in shares of Group 1 Automotive by 59.3% during the 4th quarter. Global Retirement Partners LLC now owns 188 shares of the company's stock worth $79,000 after purchasing an additional 70 shares in the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

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