Penske Automotive Group (NYSE:PAG) PT Raised to $180.00 at Bank of America

Penske Automotive Group (NYSE:PAG) had its target price upped by equities researchers at Bank of America from $175.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 19.60% from the stock’s current price.

Separately, Morgan Stanley boosted their price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $163.20.

Penske Automotive Group Stock Up 0.2 %

PAG opened at $150.50 on Wednesday. The company has a fifty day moving average price of $153.22 and a 200-day moving average price of $153.55. The firm has a market capitalization of $10.09 billion, a P/E ratio of 9.72 and a beta of 1.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.00 and a quick ratio of 0.25. Penske Automotive Group has a one year low of $133.72 and a one year high of $180.84.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.18 billion. Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.21 earnings per share. Equities research analysts expect that Penske Automotive Group will post 13.83 earnings per share for the current fiscal year.

Insider Transactions at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Greg C. Smith sold 1,604 shares of Penske Automotive Group stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the sale, the director now directly owns 716 shares of the company’s stock, valued at $110,299.80. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by insiders.

Institutional Trading of Penske Automotive Group

Several hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC bought a new stake in Penske Automotive Group in the fourth quarter worth $260,702,000. Vanguard Group Inc. lifted its stake in Penske Automotive Group by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,036,010 shares of the company’s stock worth $326,800,000 after purchasing an additional 5,399 shares during the last quarter. BlackRock Inc. lifted its stake in Penske Automotive Group by 4.6% in the third quarter. BlackRock Inc. now owns 1,404,836 shares of the company’s stock worth $138,279,000 after purchasing an additional 61,972 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Penske Automotive Group by 24.7% in the second quarter. Goldman Sachs Group Inc. now owns 827,445 shares of the company’s stock worth $86,625,000 after purchasing an additional 164,060 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in Penske Automotive Group by 3.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock worth $121,259,000 after purchasing an additional 27,055 shares during the last quarter. 77.08% of the stock is owned by 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.