Penske Automotive Group (NYSE:PAG) Price Target Raised to $212.00

Key Points

• Barclays raised Penske Automotive Group’s price target from $210 to $212 while maintaining an “overweight” rating. The new target is slightly below the stock’s prior close, implying 0.63% downside.
• Analyst sentiment remains positive overall, with five Buy and five Hold ratings producing a “Moderate Buy” consensus and an average price target of $211.71.
• Penske reported quarterly revenue of $8.42 billion, up 4.5% year over year and above estimates, though adjusted EPS of $3.36 narrowly missed the $3.37 consensus.

Penske Automotive Group (NYSE:PAG - Get Free Report) had its price objective hoisted by Barclays from $210.00 to $212.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential downside of 0.63% from the stock's previous close.

PAG has been the subject of several other reports. Benchmark cut Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Bank of America boosted their price target on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Stephens increased their price objective on shares of Penske Automotive Group from $166.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Penske Automotive Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday. Finally, UBS Group reiterated a "neutral" rating and set a $212.00 target price on shares of Penske Automotive Group in a research report on Friday, October 16th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Penske Automotive Group has a consensus rating of "Moderate Buy" and a consensus price target of $211.71.

Penske Automotive Group Stock Performance

PAG traded up $0.09 on Tuesday, hitting $213.34. 4,517 shares of the stock traded hands, compared to its average volume of 365,171. Penske Automotive Group has a 52 week low of $140.12 and a 52 week high of $227.00. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $14.01 billion, a PE ratio of 15.56 and a beta of 0.92. The business has a fifty day moving average price of $210.50 and a two-hundred day moving average price of $183.00.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $3.36 EPS for the quarter, missing analysts' consensus estimates of $3.37 by ($0.01). Penske Automotive Group had a return on equity of 14.82% and a net margin of 2.77%. The firm had revenue of $8.42 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the prior year, the business posted $3.23 EPS. Penske Automotive Group's revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Penske Automotive Group will post 13.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Penske Automotive Group

Several hedge funds have recently bought and sold shares of PAG. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Penske Automotive Group in the second quarter valued at about $35,000. Root Financial Partners LLC bought a new position in shares of Penske Automotive Group during the third quarter worth about $44,000. Core Capital Management & Research inc. bought a new position in shares of Penske Automotive Group during the second quarter worth about $43,000. Parkside Financial Bank & Trust raised its position in Penske Automotive Group by 57.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 245 shares of the company's stock valued at $44,000 after buying an additional 89 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Penske Automotive Group by 179.0% in the 2nd quarter. Versant Capital Management Inc now owns 279 shares of the company's stock valued at $50,000 after buying an additional 179 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.

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