Penske Automotive Group (NYSE:PAG) Earns "Equal Weight" Rating from Stephens

Penske Automotive Group (NYSE:PAG - Get Free Report)'s stock had its "equal weight" rating restated by analysts at Stephens in a research report issued on Wednesday,Benzinga reports. They presently have a $140.00 price objective on the stock. Stephens' price target suggests a potential downside of 16.50% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Citigroup boosted their price target on Penske Automotive Group from $185.00 to $195.00 and gave the company a "buy" rating in a report on Monday, May 19th. Wall Street Zen raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $167.00.

Penske Automotive Group Stock Down 0.4%

NYSE PAG traded down $0.75 during trading hours on Wednesday, hitting $167.67. The company had a trading volume of 112,988 shares, compared to its average volume of 200,057. The firm's 50 day moving average is $158.19 and its 200 day moving average is $159.37. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 12.19 and a beta of 0.91. 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 fifty-two week low of $134.05 and a fifty-two week high of $180.12.

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

Penske Automotive Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other Penske Automotive Group news, EVP Shane M. Spradlin sold 3,158 shares of Penske Automotive Group stock in a transaction on Monday, June 9th. The shares were sold at an average price of $167.10, for a total transaction of $527,701.80. Following the sale, the executive vice president now owns 36,152 shares in the company, valued at $6,040,999.20. The trade was a 8.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Roger S. Penske sold 77,357 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $161.37, for a total value of $12,483,099.09. Following the transaction, the chief executive officer now owns 140,042 shares of the company's stock, valued at $22,598,577.54. This trade represents a 35.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,044 shares of company stock worth $13,257,948. 51.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wealthspire Advisors LLC lifted its stake in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company's stock valued at $417,000 after buying an additional 63 shares during the period. Martingale Asset Management L P grew its position in Penske Automotive Group by 3.7% in the first quarter. Martingale Asset Management L P now owns 1,750 shares of the company's stock valued at $252,000 after purchasing an additional 63 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Penske Automotive Group by 2.9% during the 1st quarter. EP Wealth Advisors LLC now owns 2,478 shares of the company's stock worth $357,000 after purchasing an additional 70 shares during the last quarter. Blue Chip Partners LLC increased its stake in shares of Penske Automotive Group by 0.7% during the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company's stock worth $1,617,000 after purchasing an additional 73 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in Penske Automotive Group by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 4,500 shares of the company's stock valued at $648,000 after acquiring an additional 100 shares during the period. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Company Profile

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.