Penske Automotive Group (NYSE:PAG) Coverage Initiated by Analysts at Benchmark

Benchmark began coverage on shares of Penske Automotive Group (NYSE:PAG - Get Free Report) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set a "buy" rating on the stock.

Other equities analysts have also issued reports about the stock. Stephens initiated coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They set an "equal weight" rating and a $161.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a research report on Tuesday, September 10th. Finally, Morgan Stanley upgraded Penske Automotive Group from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $115.00 to $180.00 in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $170.25.

Penske Automotive Group Stock Performance

NYSE PAG traded up $1.45 on Thursday, hitting $164.95. 151,490 shares of the stock were exchanged, compared to its average volume of 181,748. The company has a market capitalization of $11.01 billion, a PE ratio of 12.64 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The business's fifty day moving average is $159.06 and its 200 day moving average is $157.51. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same period in the previous year, the business earned $3.90 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. Research analysts anticipate that Penske Automotive Group will post 13.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Advisors LLC bought a new stake in shares of Penske Automotive Group during the first quarter valued at approximately $230,000. Diversified Trust Co bought a new stake in Penske Automotive Group during the 2nd quarter worth approximately $328,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Penske Automotive Group by 51.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,422 shares of the company's stock worth $361,000 after purchasing an additional 827 shares during the period. Blue Trust Inc. increased its stake in Penske Automotive Group by 17.5% in the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company's stock worth $123,000 after acquiring an additional 113 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Penske Automotive Group in the second quarter worth approximately $1,516,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Company Profile

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.