Penske Automotive Group (NYSE:PAG - Get Free Report)'s stock had its "buy (b+)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.
A number of other brokerages also recently issued reports on PAG. Bank of America increased their price target on Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup raised their target price on Penske Automotive Group from $200.00 to $206.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Benchmark raised their target price on Penske Automotive Group from $185.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Morgan Stanley raised their target price on Penske Automotive Group from $180.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised Penske Automotive Group from an "underweight" rating to a "neutral" rating and raised their target price for the company from $155.00 to $175.00 in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $184.33.
Get Our Latest Research Report on PAG
Penske Automotive Group Stock Performance
PAG opened at $167.94 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.21 and a current ratio of 0.90. The business's 50-day simple moving average is $178.97 and its 200 day simple moving average is $168.42. The firm has a market capitalization of $11.09 billion, a PE ratio of 11.69 and a beta of 0.88. Penske Automotive Group has a 52-week low of $134.05 and a 52-week high of $189.51.
Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.22. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a return on equity of 17.43% and a net margin of 3.13%.The business's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.61 earnings per share. As a group, sell-side analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Lisa Ann Davis sold 1,604 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the transaction, the director directly owned 1,529 shares of the company's stock, valued at approximately $276,351.46. This represents a 51.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michelle Hulgrave sold 1,100 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.55, for a total value of $200,805.00. Following the transaction, the chief financial officer directly owned 18,922 shares in the company, valued at approximately $3,454,211.10. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Penske Automotive Group
Several institutional investors and hedge funds have recently bought and sold shares of PAG. Cambridge Investment Research Advisors Inc. lifted its position in shares of Penske Automotive Group by 9.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,367 shares of the company's stock worth $485,000 after acquiring an additional 295 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Penske Automotive Group by 15.8% in the first quarter. Teacher Retirement System of Texas now owns 12,006 shares of the company's stock worth $1,729,000 after buying an additional 1,639 shares in the last quarter. KBC Group NV raised its position in shares of Penske Automotive Group by 33.4% in the first quarter. KBC Group NV now owns 999 shares of the company's stock worth $144,000 after buying an additional 250 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Penske Automotive Group in the first quarter worth $648,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Penske Automotive Group in the first quarter worth $247,000. 77.08% of the stock is owned by institutional investors.
About Penske Automotive Group
(
Get Free Report)
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.
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