Penske Automotive Group (NYSE:PAG) Given "Equal Weight" Rating at Stephens

Penske Automotive Group (NYSE:PAG - Get Free Report)'s stock had its "equal weight" rating restated by equities research analysts at Stephens in a report released on Monday,Benzinga reports. They presently have a $140.00 price objective on the stock. Stephens' price target would indicate a potential downside of 11.74% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Citigroup started coverage on Penske Automotive Group in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $185.00 target price on the stock. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $165.00.

Penske Automotive Group Stock Up 2.3 %

Penske Automotive Group stock traded up $3.58 during mid-day trading on Monday, hitting $158.62. The company's stock had a trading volume of 159,110 shares, compared to its average volume of 195,420. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group has a 52-week low of $134.05 and a 52-week high of $180.12. The firm's 50 day moving average is $152.58 and its 200 day moving average is $158.16. The company has a market cap of $10.50 billion, a PE ratio of 11.54 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, topping the consensus estimate of $3.27 by $0.12. The business had revenue of $7.60 billion during the quarter, compared to analysts' expectations of $7.68 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $3.21 earnings per share. On average, analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current year.

Insider Activity

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company's stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Barr sold 1,529 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. Insiders own 52.40% of the company's stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently added to or reduced their stakes in PAG. US Bancorp DE lifted its position in shares of Penske Automotive Group by 24.2% in the 1st quarter. US Bancorp DE now owns 1,833 shares of the company's stock worth $264,000 after acquiring an additional 357 shares during the period. Bayforest Capital Ltd boosted its stake in Penske Automotive Group by 1,772.7% during the first quarter. Bayforest Capital Ltd now owns 1,236 shares of the company's stock worth $178,000 after buying an additional 1,170 shares in the last quarter. XTX Topco Ltd bought a new stake in Penske Automotive Group in the 1st quarter valued at $1,102,000. Sheaff Brock Investment Advisors LLC raised its stake in shares of Penske Automotive Group by 0.3% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 49,324 shares of the company's stock valued at $7,102,000 after buying an additional 165 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Penske Automotive Group by 7.4% during the 1st quarter. LPL Financial LLC now owns 10,351 shares of the company's stock valued at $1,490,000 after acquiring an additional 713 shares in the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.