Analysts Set Penske Automotive Group, Inc. (NYSE:PAG) Target Price at $163.20

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $163.20.

Several research firms have recently issued reports on PAG. Bank of America lifted their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a report on Thursday, February 29th.

Penske Automotive Group Trading Down 0.5 %

Shares of Penske Automotive Group stock opened at $153.22 on Friday. Penske Automotive Group has a fifty-two week low of $136.45 and a fifty-two week high of $180.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The company has a market capitalization of $10.25 billion, a P/E ratio of 10.66 and a beta of 1.21. The company has a fifty day moving average of $153.82 and a 200 day moving average of $152.92.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($0.14). Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business posted $4.31 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Penske Automotive Group will post 13.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John Barr sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the sale, the director now directly owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the completion of the sale, the director now owns 716 shares of the company’s stock, valued at approximately $110,299.80. The disclosure for this sale can be found here. 52.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

Several hedge funds have recently made changes to their positions in PAG. Apollon Wealth Management LLC increased its holdings in shares of Penske Automotive Group by 4.0% in the 4th quarter. Apollon Wealth Management LLC now owns 1,785 shares of the company’s stock valued at $287,000 after acquiring an additional 68 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Penske Automotive Group by 3.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock valued at $370,000 after buying an additional 70 shares in the last quarter. Arizona State Retirement System grew its position in shares of Penske Automotive Group by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 5,893 shares of the company’s stock worth $984,000 after buying an additional 73 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Penske Automotive Group by 1.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock worth $672,000 after acquiring an additional 73 shares in the last quarter. Finally, Alaska Permanent Fund Corp lifted its position in Penske Automotive Group by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock valued at $2,516,000 after acquiring an additional 75 shares during the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.