Penske Automotive Group (NYSE:PAG) Price Target Raised to $199.00

Key Points

• Citigroup raised its price target on Penske Automotive Group from $193 to $199 and maintained a "buy" rating, implying about a 16.96% upside from the current share price.
• Penske beat quarterly estimates with EPS of $3.05 (vs. $2.91 est.) and revenue of $7.86B (vs. $7.71B), though revenue was down 1.1% year-over-year; the stock traded near $170.14 with a market cap of $11.19B and a P/E of 12.7.
• Analyst sentiment is mixed—six Buy and three Hold—resulting in a consensus rating of Moderate Buy and an average price target of $184.14.

Penske Automotive Group (NYSE:PAG - Get Free Report) had its price objective hoisted by research analysts at Citigroup from $193.00 to $199.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 16.96% from the company's current price.

A number of other research firms have also commented on PAG. Weiss Ratings lowered Penske Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 16th. Stephens raised their price objective on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday. Barclays lowered their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Penske Automotive Group from $170.00 to $165.00 and set a "neutral" rating for the company in a report on Friday, April 17th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $184.14.

Penske Automotive Group Price Performance

PAG stock traded up $1.33 during trading on Wednesday, hitting $170.14. The company had a trading volume of 132,386 shares, compared to its average volume of 294,487. The company has a fifty day moving average price of $154.51 and a two-hundred day moving average price of $160.27. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39. The company has a market cap of $11.19 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.19 and a beta of 0.90. Penske Automotive Group has a fifty-two week low of $140.12 and a fifty-two week high of $189.51.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.14. The company had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The business's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.66 earnings per share. Equities research analysts expect that Penske Automotive Group will post 13.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Penske Automotive Group

Large investors have recently made changes to their positions in the company. Navalign LLC acquired a new position in shares of Penske Automotive Group during the fourth quarter valued at $26,000. Rothschild Investment LLC lifted its stake in Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company's stock valued at $31,000 after buying an additional 159 shares during the period. International Assets Investment Management LLC acquired a new position in Penske Automotive Group in the fourth quarter valued at about $30,000. Root Financial Partners LLC acquired a new position in Penske Automotive Group in the third quarter valued at about $33,000. Finally, Acadian Asset Management LLC acquired a new position in Penske Automotive Group in the first quarter valued at about $42,000. Institutional investors and hedge funds own 77.08% of the company's stock.

About Penske Automotive Group

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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