Penske Automotive Group (NYSE:PAG - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $160.00 to $165.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 0.89% from the company's current price.
Several other equities research analysts also recently commented on the company. Stephens reiterated an "equal weight" rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday. Benchmark initiated coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $172.50.
View Our Latest Stock Analysis on Penske Automotive Group
Penske Automotive Group Trading Down 2.6 %
Shares of Penske Automotive Group stock traded down $4.38 during trading hours on Wednesday, reaching $163.54. The stock had a trading volume of 276,083 shares, compared to its average volume of 188,508. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 11.89 and a beta of 1.20. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $180.12. The firm has a 50 day simple moving average of $161.04 and a two-hundred day simple moving average of $160.51.
Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, equities research analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current year.
Insider Buying and Selling at Penske Automotive Group
In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 51.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Penske Automotive Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock worth $304,757,000 after acquiring an additional 12,912 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in shares of Penske Automotive Group by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company's stock worth $122,998,000 after acquiring an additional 13,106 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Penske Automotive Group by 3.5% in the 4th quarter. AQR Capital Management LLC now owns 606,709 shares of the company's stock worth $92,487,000 after acquiring an additional 20,506 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Penske Automotive Group by 24.4% in the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after acquiring an additional 51,720 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock worth $39,560,000 after acquiring an additional 38,388 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.
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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