Penske Automotive Group (NYSE:PAG) Price Target Lowered to $165.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its price target on Penske Automotive from $170 to $165 and maintained a "neutral" rating, implying roughly a 1.16% upside from the prior close.
• Other analysts have trimmed targets as well—Barclays to $190 and Citigroup to $193—and MarketBeat's consensus remains a "Moderate Buy" with an average target of $180.43 (six Buys, three Holds).
• PAG shares traded up about 4.5% to $163.10; the company recently missed quarterly EPS ($2.91 vs. $3.19), reported revenue down 3.8% year-over-year, and has a market cap around $10.7B with a P/E near 12.1.

Penske Automotive Group (NYSE:PAG - Get Free Report) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $170.00 to $165.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 1.16% from the company's previous close.

Several other analysts also recently commented on PAG. Barclays dropped their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Weiss Ratings lowered Penske Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 16th. Finally, Citigroup lowered their target price on Penske Automotive Group from $200.00 to $193.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Penske Automotive Group currently has an average rating of "Moderate Buy" and a consensus target price of $180.43.

Penske Automotive Group Trading Up 4.5%

Shares of NYSE PAG traded up $7.08 during mid-day trading on Friday, hitting $163.10. 74,789 shares of the company traded hands, compared to its average volume of 285,671. The business has a 50 day moving average of $155.68 and a two-hundred day moving average of $161.02. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 0.22, a current ratio of 0.99 and a debt-to-equity ratio of 0.32. Penske Automotive Group has a 1 year low of $140.12 and a 1 year high of $189.51.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing analysts' consensus estimates of $3.19 by ($0.28). The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The business's revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.54 EPS. On average, sell-side analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Penske Automotive Group

Several institutional investors have recently modified their holdings of PAG. Navalign LLC purchased a new stake in Penske Automotive Group in the fourth quarter worth about $26,000. International Assets Investment Management LLC bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at $30,000. Rothschild Investment LLC lifted its stake in shares of Penske Automotive Group by 935.3% during the 3rd quarter. Rothschild Investment LLC now owns 176 shares of the company's stock valued at $31,000 after buying an additional 159 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Penske Automotive Group during the 3rd quarter valued at $33,000. Finally, Acadian Asset Management LLC purchased a new stake in Penske Automotive Group in the 1st quarter worth $42,000. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc NYSE: PAG, headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.

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