JPMorgan Cuts Group 1 Automotive Price Target to $260

Group 1 Automotive (NYSE:GPI) has seen its stock price target lowered by JPMorgan Chase & Co., which reduced its estimate from $275.00 to $260.00. The firm maintains a "neutral" rating on the stock, suggesting a potential upside of 9.75% from its current price. This adjustment comes amid a mix of analyst opinions on the company's outlook.

Other analysts have also revised their views on Group 1 Automotive. Morgan Stanley downgraded the stock from "equal weight" to "underweight," cutting its price target from $300.00 to $232.00. Barclays, however, kept an "overweight" rating but lowered its target price from $365.00 to $320.00. Zacks Research downgraded the stock to a "strong sell," while Benchmark reaffirmed a "buy" rating. DA Davidson set a higher target at $425.00. Overall, the stock has a consensus "Hold" rating with an average price target of $338.62.

Group 1 Automotive's stock traded down $4.53 on Tuesday, reaching $236.91. The company reported quarterly earnings of $9.61 per share, missing estimates by $0.99. Revenue for the quarter was $5.39 billion, down 5.6% year-over-year. Despite the mixed financial performance, major shareholder Conifer Management, L.L.C. increased its stake by purchasing 71,592 shares at $242.03 per share, totaling $17,327,411.76.

Institutional investors have shown varied interest in Group 1 Automotive. Several hedge funds acquired new positions or increased their holdings during the second quarter. The company's stock has a 52-week low of $234.05 and a high of $461.27, with a market capitalization of $2.82 billion and a debt-to-equity ratio of 1.03.