Citigroup Has Lowered Expectations for Group 1 Automotive (NYSE:GPI) Stock Price
by Tristan Rich · The Markets DailyGroup 1 Automotive (NYSE:GPI – Get Free Report) had its price target reduced by equities research analysts at Citigroup from $490.00 to $420.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 26.30% from the stock’s current price.
Several other brokerages also recently weighed in on GPI. Evercore assumed coverage on Group 1 Automotive in a research report on Tuesday, January 20th. They set an “outperform” rating and a $500.00 price target on the stock. Barclays cut their price target on Group 1 Automotive from $470.00 to $455.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley cut their price target on Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. JPMorgan Chase & Co. raised Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $370.00 price target on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings downgraded Group 1 Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Group 1 Automotive has an average rating of “Moderate Buy” and a consensus target price of $442.63.
View Our Latest Stock Report on GPI
Group 1 Automotive Stock Performance
Shares of NYSE GPI traded up $8.58 during mid-day trading on Wednesday, hitting $332.54. The stock had a trading volume of 67,215 shares, compared to its average volume of 186,944. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.08. The company has a 50 day moving average of $329.86 and a two-hundred day moving average of $381.81. Group 1 Automotive has a twelve month low of $292.44 and a twelve month high of $488.39. The firm has a market cap of $3.95 billion, a PE ratio of 13.33, a PEG ratio of 0.51 and a beta of 0.88.
Group 1 Automotive (NYSE:GPI – Get Free Report) last released its earnings results on Thursday, January 29th. The company reported $8.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.36 by ($0.87). The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.71 billion. Group 1 Automotive had a net margin of 1.44% and a return on equity of 17.39%. Group 1 Automotive’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $10.02 earnings per share. Research analysts predict that Group 1 Automotive will post 41 EPS for the current fiscal year.
Institutional Investors Weigh In On Group 1 Automotive
A number of institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its position in shares of Group 1 Automotive by 6.1% during the 2nd quarter. NewEdge Advisors LLC now owns 471 shares of the company’s stock valued at $206,000 after acquiring an additional 27 shares during the period. Signaturefd LLC grew its position in shares of Group 1 Automotive by 54.9% during the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock valued at $31,000 after acquiring an additional 28 shares during the period. Procyon Advisors LLC grew its position in shares of Group 1 Automotive by 5.1% during the 3rd quarter. Procyon Advisors LLC now owns 595 shares of the company’s stock valued at $260,000 after acquiring an additional 29 shares during the period. Lido Advisors LLC grew its position in shares of Group 1 Automotive by 3.4% during the 4th quarter. Lido Advisors LLC now owns 935 shares of the company’s stock valued at $399,000 after acquiring an additional 31 shares during the period. Finally, Assetmark Inc. grew its position in shares of Group 1 Automotive by 40.5% during the 4th quarter. Assetmark Inc. now owns 118 shares of the company’s stock valued at $46,000 after acquiring an additional 34 shares during the period. 99.92% of the stock is currently owned by institutional investors and hedge funds.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.
Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.