KeyBanc Downgrades Group 1 Automotive Inc. (GPI) to Sector Weight
Get Alerts GPI Hot Sheet
Rating Summary:
11 Buy, 10 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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KeyBanc downgraded Group 1 Automotive Inc. (NYSE: GPI) from Overweight to Sector Weight and removed its price target. Analyst Brett D. Hoselton pointed out near-term headwinds.
"Downgrade to SW: 1) top line could underperform peer group in 2016 driven by outsized exposure to oil-price-impacted markets such as Texas and Oklahoma, ~45% of the mix, and Brazilian exposure, ~8% of the mix; 2) gross profit throughput rate should rebound relative to 4Q15, but is likely to remain below average near term driven by headwinds in the oil markets; and 3) P/E multiple is likely to remain under pressure driven by negative investor sentiment," said Hoselton.
For an analyst ratings summary and ratings history on Group 1 Automotive Inc. click here. For more ratings news on Group 1 Automotive Inc. click here.
Shares of Group 1 Automotive Inc. closed at $52.02 yesterday.
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