Penske Automotive Group (NYSE:PAG) Price Target Raised to $165.00

Penske Automotive Group (NYSE:PAG) had its target price increased by stock 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 downside of 1.86% from the stock’s current price.

PAG has been the subject of several other research reports. Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday. Benchmark started coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $172.50.

Penske Automotive Group Trading Down 0.9 %

Shares of Penske Automotive Group stock opened at $168.12 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 12.23 and a beta of 1.20. The business has a fifty day simple moving average of $161.04 and a 200-day simple moving average of $160.51. Penske Automotive Group has a fifty-two week low of $142.32 and a fifty-two week high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.37 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. On average, equities analysts forecast that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Insider Activity at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after acquiring an additional 10,663 shares in the last quarter. Highland Capital Management LLC purchased a new stake in Penske Automotive Group in the 4th quarter worth about $240,000. Cerity Partners LLC lifted its stake in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after acquiring an additional 8,504 shares in the last quarter. Blue Trust Inc. lifted its stake in Penske Automotive Group by 28.3% in the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after acquiring an additional 269 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Penske Automotive Group by 188.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock worth $1,134,000 after acquiring an additional 4,559 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

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.