Penske Automotive Group (NYSE:PAG) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of Penske Automotive Group (NYSE:PAG) from a hold rating to a sell rating in a report published on Thursday, ValuEngine reports.

PAG has been the topic of a number of other research reports. Morgan Stanley cut GasLog Partners LP Unit from an overweight rating to an equal weight rating and decreased their price target for the stock from $23.00 to $18.00 in a research report on Tuesday, April 16th. Zacks Investment Research cut Hanger from a hold rating to a sell rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Penske Automotive Group has a consensus rating of Hold and an average price target of $54.00.

Shares of NYSE PAG opened at $45.89 on Thursday. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.80. Penske Automotive Group has a 52 week low of $38.49 and a 52 week high of $53.84. The company has a market capitalization of $3.84 billion, a PE ratio of 8.59, a P/E/G ratio of 1.81 and a beta of 1.33. The stock has a fifty day moving average of $45.84.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.03. Penske Automotive Group had a return on equity of 17.38% and a net margin of 2.05%. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter last year, the business earned $1.26 earnings per share. Penske Automotive Group’s revenue was down 3.2% on a year-over-year basis. Research analysts anticipate that Penske Automotive Group will post 5.51 earnings per share for the current year.

In related news, EVP Shane M. Spradlin sold 2,656 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.05, for a total value of $116,996.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Robert H. Kurnick, Jr. sold 8,579 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.05, for a total value of $395,062.95. Following the completion of the sale, the president now directly owns 98,509 shares in the company, valued at $4,536,339.45. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. boosted its stake in Penske Automotive Group by 0.5% in the first quarter. Blue Chip Partners Inc. now owns 44,826 shares of the company’s stock valued at $2,001,000 after buying an additional 225 shares in the last quarter. Occidental Asset Management LLC boosted its stake in Penske Automotive Group by 6.8% in the fourth quarter. Occidental Asset Management LLC now owns 7,345 shares of the company’s stock valued at $296,000 after buying an additional 467 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Penske Automotive Group by 3.5% in the first quarter. CIBC World Markets Inc. now owns 16,481 shares of the company’s stock valued at $736,000 after buying an additional 562 shares in the last quarter. Sageworth Trust Co acquired a new stake in Penske Automotive Group in the first quarter valued at about $27,000. Finally, Citigroup Inc. boosted its stake in Penske Automotive Group by 2.9% in the fourth quarter. Citigroup Inc. now owns 24,307 shares of the company’s stock valued at $980,000 after buying an additional 677 shares in the last quarter. 44.10% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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