Penske Automotive Group, Inc. (NYSE:PAG) Receives $184.43 Average PT from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $184.4286.

PAG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. JPMorgan Chase & Co. lowered their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Citigroup boosted their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Barclays started coverage on Penske Automotive Group in a research report on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 price objective on the stock. Finally, Bank of America began coverage on Penske Automotive Group in a research note on Tuesday, December 9th. They issued a “buy” rating and a $195.00 target price for the company.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer owned 16,822 shares in the company, valued at approximately $2,694,379.74. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

A number of hedge funds have recently modified their holdings of the company. Kendall Capital Management grew its holdings in Penske Automotive Group by 1.0% during the fourth quarter. Kendall Capital Management now owns 7,390 shares of the company’s stock valued at $1,170,000 after purchasing an additional 75 shares during the period. Applied Capital LLC FL grew its holdings in shares of Penske Automotive Group by 9.1% in the 4th quarter. Applied Capital LLC FL now owns 26,905 shares of the company’s stock valued at $4,259,000 after buying an additional 2,238 shares during the period. Nilsine Partners LLC grew its holdings in shares of Penske Automotive Group by 7.2% in the 4th quarter. Nilsine Partners LLC now owns 22,989 shares of the company’s stock valued at $3,639,000 after buying an additional 1,548 shares during the period. TrueMark Investments LLC bought a new stake in shares of Penske Automotive Group in the 4th quarter valued at $639,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in Penske Automotive Group during the 4th quarter worth $208,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $163.81 on Friday. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.25 and a beta of 0.92. Penske Automotive Group has a one year low of $134.05 and a one year high of $189.51. The business has a fifty day simple moving average of $162.89 and a 200 day simple moving average of $170.56. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, October 29th. The company reported $3.23 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.25). The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.39 earnings per share. Sell-side analysts expect that Penske Automotive Group will post 13.86 EPS for the current year.

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.