Group 1 Automotive (NYSE:GPI) Cut to "Neutral" at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Group 1 Automotive (NYSE:GPI - Free Report) from an overweight rating to a neutral rating in a research report released on Thursday, Marketbeat.com reports. They currently have $415.00 target price on the stock, down from their previous target price of $435.00.

Several other research firms have also recently commented on GPI. Wall Street Zen cut shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Benchmark started coverage on shares of Group 1 Automotive in a research note on Tuesday, June 24th. They issued a "hold" rating for the company. Bank of America upped their target price on Group 1 Automotive from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup upped their target price on Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Guggenheim downgraded Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Group 1 Automotive presently has a consensus rating of "Hold" and an average price target of $470.14.

Group 1 Automotive Stock Down 8.5%

GPI stock traded down $37.60 during trading on Thursday, reaching $406.92. The stock had a trading volume of 452,514 shares, compared to its average volume of 151,731. Group 1 Automotive has a 1-year low of $298.92 and a 1-year high of $490.09. The company has a current ratio of 1.00, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $5.27 billion, a P/E ratio of 11.42, a PEG ratio of 1.12 and a beta of 0.90. The firm has a fifty day moving average price of $440.95 and a 200 day moving average price of $431.30.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) 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 2.27% and a return on equity of 17.96%. The company's revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.49 EPS. On average, equities analysts anticipate that Group 1 Automotive will post 41 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.49%. Group 1 Automotive's payout ratio is 5.61%.

Insider Buying and Selling

In other Group 1 Automotive news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer owned 16,674 shares in the company, valued at $7,365,072.54. This represents a 15.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael David Jones sold 1,613 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the transaction, the vice president owned 8,260 shares in the company, valued at approximately $3,350,008.20. This trade represents a 16.34% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Group 1 Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its position in shares of Group 1 Automotive by 19.0% during the 4th quarter. HighTower Advisors LLC now owns 2,047 shares of the company's stock valued at $863,000 after acquiring an additional 327 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Group 1 Automotive by 69.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 990 shares of the company's stock worth $417,000 after buying an additional 405 shares during the last quarter. Corient Private Wealth LLC increased its stake in Group 1 Automotive by 11.5% in the fourth quarter. Corient Private Wealth LLC now owns 1,063 shares of the company's stock valued at $448,000 after purchasing an additional 110 shares in the last quarter. Cibc World Markets Corp bought a new stake in Group 1 Automotive in the fourth quarter valued at approximately $522,000. Finally, Intech Investment Management LLC increased its stake in Group 1 Automotive by 74.7% in the fourth quarter. Intech Investment Management LLC now owns 6,237 shares of the company's stock valued at $2,629,000 after purchasing an additional 2,667 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Company Profile

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.