Raymond James & Associates Acquires 6,228 Shares of Penske Automotive Group, Inc. (NYSE:PAG)

Raymond James & Associates increased its holdings in shares of Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) by 22.8% during the third quarter, Holdings Channel reports. The fund owned 33,582 shares of the company’s stock after purchasing an additional 6,228 shares during the period. Raymond James & Associates’ holdings in Penske Automotive Group were worth $3,306,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in Penske Automotive Group by 24.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 827,445 shares of the company’s stock valued at $86,625,000 after buying an additional 164,060 shares during the last quarter. Bank of America Corp DE boosted its position in Penske Automotive Group by 3.0% in the 1st quarter. Bank of America Corp DE now owns 749,465 shares of the company’s stock valued at $70,240,000 after buying an additional 21,493 shares during the last quarter. Private Management Group Inc. boosted its position in Penske Automotive Group by 0.9% in the 2nd quarter. Private Management Group Inc. now owns 454,373 shares of the company’s stock valued at $47,568,000 after buying an additional 4,015 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Penske Automotive Group by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock valued at $28,864,000 after buying an additional 3,730 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Penske Automotive Group by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 284,940 shares of the company’s stock valued at $26,705,000 after buying an additional 8,407 shares during the last quarter. 32.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PAG shares. Morgan Stanley cut their price target on Penske Automotive Group from $93.00 to $88.00 and set an “underweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on Penske Automotive Group from $125.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 6th. Finally, StockNews.com downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th.

Penske Automotive Group Stock Performance

PAG stock opened at $115.14 on Friday. The company has a market cap of $8.21 billion, a P/E ratio of 6.30, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Penske Automotive Group, Inc. has a twelve month low of $88.58 and a twelve month high of $131.55. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $120.04 and its 200-day moving average is $113.27.

Penske Automotive Group (NYSE:PAG – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $4.61 EPS for the quarter, topping the consensus estimate of $4.38 by $0.23. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $6.79 billion. Penske Automotive Group had a return on equity of 33.86% and a net margin of 5.14%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.46 EPS. Equities research analysts forecast that Penske Automotive Group, Inc. will post 18.35 EPS for the current year.

About Penske Automotive Group

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Penske Automotive Group, Inc operates as an international transportation services company. Which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems and related parts & services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.