Stephens Initiates Coverage on Group 1 Automotive (NYSE:GPI)

Equities research analysts at Stephens began coverage on shares of Group 1 Automotive (NYSE:GPI) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $394.00 price target on the stock. Stephens’ price target would suggest a potential upside of 15.83% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Bank of America dropped their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Morgan Stanley increased their target price on Group 1 Automotive from $260.00 to $285.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their target price on Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Group 1 Automotive has a consensus rating of “Moderate Buy” and an average price target of $367.80.

Group 1 Automotive Stock Performance

Shares of GPI stock opened at $340.14 on Thursday. Group 1 Automotive has a 52 week low of $228.84 and a 52 week high of $379.45. The firm has a 50 day moving average of $336.58 and a two-hundred day moving average of $306.24. The stock has a market capitalization of $4.60 billion, a PE ratio of 8.03, a P/E/G ratio of 1.82 and a beta of 1.33. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, beating the consensus estimate of $9.36 by $0.44. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.68 billion. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. Group 1 Automotive’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.73 earnings per share. On average, research analysts predict that Group 1 Automotive will post 39.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Michael David Jones sold 1,200 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers grew its holdings in shares of Group 1 Automotive by 6.9% during the second quarter. Cetera Investment Advisers now owns 4,153 shares of the company’s stock worth $1,235,000 after buying an additional 269 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Group 1 Automotive by 48.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,079 shares of the company’s stock valued at $2,105,000 after purchasing an additional 2,308 shares during the period. Creative Planning lifted its position in Group 1 Automotive by 55.3% in the second quarter. Creative Planning now owns 2,873 shares of the company’s stock valued at $854,000 after purchasing an additional 1,023 shares during the period. Algert Global LLC lifted its position in Group 1 Automotive by 3.1% in the second quarter. Algert Global LLC now owns 43,767 shares of the company’s stock valued at $13,011,000 after purchasing an additional 1,313 shares during the period. Finally, Susquehanna Fundamental Investments LLC lifted its position in Group 1 Automotive by 327.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company’s stock valued at $4,596,000 after purchasing an additional 11,839 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.

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.