Penske Automotive Group (NYSE:PAG) Price Target Raised to $210.00 at Stephens

Key Points

• Stephens raised Penske Automotive Group’s price target to $210 from $166 while maintaining an “equal weight” rating, implying roughly 4% downside from the previous close.
• Penske exceeded quarterly expectations, reporting $3.62 in EPS versus $3.42 expected and $8.51 billion in revenue versus $7.98 billion expected; revenue increased 11.1% year over year.
• Analysts collectively rate the stock “Moderate Buy,” with five Buy and five Hold ratings and an average price target of $202.25, while insiders own 52.9% and institutional investors own 77.08% of shares.

Penske Automotive Group (NYSE:PAG - Get Free Report) had its price target hoisted by investment analysts at Stephens from $166.00 to $210.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Stephens' target price indicates a potential downside of 3.97% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Barclays boosted their price target on shares of Penske Automotive Group from $190.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Penske Automotive Group from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Morgan Stanley reiterated an "overweight" rating and issued a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday, May 7th. Benchmark cut Penske Automotive Group from a "buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, UBS Group set a $190.00 price target on Penske Automotive Group in a research report on Friday, July 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $202.25.

Penske Automotive Group Stock Performance

Shares of PAG opened at $218.67 on Monday. Penske Automotive Group has a 12-month low of $140.12 and a 12-month 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 0.36. The company has a market cap of $14.38 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.92 and a beta of 0.84. The stock has a 50-day moving average price of $186.65 and a 200-day moving average price of $168.89.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.20. The company had revenue of $8.51 billion for the quarter, compared to analysts' expectations of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. Penske Automotive Group's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.78 earnings per share. As a group, equities analysts forecast that Penske Automotive Group will post 13.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michelle Hulgrave sold 1,500 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total transaction of $257,700.00. Following the transaction, the chief financial officer owned 17,596 shares of the company's stock, valued at approximately $3,022,992.80. This trade represents a 7.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total transaction of $238,109.76. The SEC filing for this sale provides additional information. 52.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Navalign LLC bought a new stake in shares of Penske Automotive Group in the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in Penske Automotive Group in the 4th quarter worth approximately $30,000. Rothschild Investment LLC increased its stake in Penske Automotive Group by 37.5% in the 4th quarter. Rothschild Investment LLC now owns 242 shares of the company's stock worth $38,000 after purchasing an additional 66 shares during the period. Versant Capital Management Inc increased its stake in Penske Automotive Group by 179.0% in the 2nd quarter. Versant Capital Management Inc now owns 279 shares of the company's stock worth $50,000 after purchasing an additional 179 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Penske Automotive Group in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors 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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