JPMorgan Chase & Co. Issues Positive Forecast for Group 1 Automotive (NYSE:GPI) Stock Price

Key Points

• JPMorgan Chase & Co. raised its target price for Group 1 Automotive stock from $430 to $435, indicating a potential upside of 2.71% compared to its current price, while maintaining a "neutral" rating.
• Analysts have mixed ratings for the stock, with highlights including a "buy" rating from Bank of America with a decreased target of $545 and a downgraded "hold" rating from Zacks Research.
• Group 1 Automotive reported a strong quarterly earnings result with $11.52 EPS, surpassing expectations of $10.31, along with a 21.4% year-over-year revenue growth.

Group 1 Automotive (NYSE:GPI - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $430.00 to $435.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 2.71% from the stock's current price.

Several other research analysts have also issued reports on the stock. Bank of America decreased their price target on shares of Group 1 Automotive from $560.00 to $545.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Weiss Ratings restated a "buy (b)" rating on shares of Group 1 Automotive in a research note on Wednesday, October 8th. Zacks Research lowered shares of Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Citigroup restated a "buy" rating on shares of Group 1 Automotive in a research note on Thursday, September 25th. Finally, Benchmark assumed coverage on shares of Group 1 Automotive in a research note on Tuesday, June 24th. They set a "hold" rating for the company. Five analysts have rated the stock with a Buy rating and five 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 an average target price of $478.00.

Group 1 Automotive Stock Up 1.4%

Shares of Group 1 Automotive stock opened at $423.54 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.05 and a quick ratio of 0.24. The company has a 50-day moving average of $450.89 and a 200 day moving average of $433.25. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.06 and a beta of 0.85. Group 1 Automotive has a 1 year low of $344.38 and a 1 year high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $11.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.31 by $1.21. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. Group 1 Automotive had a net margin of 2.18% and a return on equity of 18.10%. Group 1 Automotive's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $9.82 EPS. As a group, sell-side analysts anticipate that Group 1 Automotive will post 41 earnings per share for the current fiscal year.

Insider Activity at Group 1 Automotive

In related news, Director Lincoln Pereira sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the completion of the sale, the director directly owned 82,967 shares in the company, valued at approximately $38,939,731.78. The trade was a 7.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Mizell sold 525 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total transaction of $219,439.50. Following the sale, the director owned 8 shares of the company's stock, valued at $3,343.84. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Institutional Trading of Group 1 Automotive

Large investors have recently added to or reduced their stakes in the business. MAI Capital Management lifted its holdings in Group 1 Automotive by 131.3% during the second quarter. MAI Capital Management now owns 74 shares of the company's stock valued at $32,000 after purchasing an additional 42 shares in the last quarter. Elequin Capital LP purchased a new position in Group 1 Automotive during the first quarter valued at approximately $29,000. Signaturefd LLC lifted its holdings in Group 1 Automotive by 90.5% during the second quarter. Signaturefd LLC now owns 80 shares of the company's stock valued at $35,000 after purchasing an additional 38 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Group 1 Automotive during the second quarter valued at approximately $43,000. Finally, Bessemer Group Inc. lifted its holdings in Group 1 Automotive by 60.3% during the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after purchasing an additional 41 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.