Group 1 Automotive (NYSE:GPI) Rating Increased to Overweight at Morgan Stanley

Group 1 Automotive (NYSE:GPI) was upgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a $430.00 target price on the stock, up from their previous target price of $285.00. Morgan Stanley’s price target indicates a potential upside of 12.50% from the stock’s previous close.

Other analysts have also issued research reports about the company. Bank of America cut their price objective on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Stephens began coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective on the stock. Finally, StockNews.com lowered shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Group 1 Automotive has a consensus rating of “Moderate Buy” and an average target price of $396.80.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $382.23 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33. The business has a 50-day simple moving average of $355.17 and a two-hundred day simple moving average of $314.70. Group 1 Automotive has a fifty-two week low of $228.84 and a fifty-two week high of $393.93.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, beating the consensus estimate of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The firm had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the company earned $11.73 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Group 1 Automotive will post 39.18 earnings per share for the current year.

Insider Buying and Selling

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction that occurred on Thursday, August 15th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. bought a new position in shares of Group 1 Automotive in the fourth quarter worth about $27,000. Hexagon Capital Partners LLC boosted its stake in Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares during the period. Headlands Technologies LLC purchased a new stake in Group 1 Automotive during the 2nd quarter valued at approximately $48,000. EverSource Wealth Advisors LLC raised its position in shares of Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after buying an additional 39 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Group 1 Automotive by 47.5% in the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after buying an additional 87 shares in the last quarter. 99.92% of the stock is 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.