Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.67.
Several brokerages have recently weighed in on PAG. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $46.00 target price (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday. BidaskClub raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Morgan Stanley cut their price target on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. ValuEngine cut Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Gabelli upgraded Penske Automotive Group from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Thursday, April 27th.
In other news, EVP Shane M. Spradlin sold 1,900 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $43.64, for a total transaction of $82,916.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Robert H. Kurnick, Jr. sold 11,172 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $42.48, for a total value of $474,586.56. Following the transaction, the president now directly owns 89,405 shares of the company’s stock, valued at $3,797,924.40. The disclosure for this sale can be found here. 40.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PAG. Russell Investments Group Ltd. acquired a new position in shares of Penske Automotive Group during the fourth quarter worth about $3,270,000. Prudential PLC raised its position in shares of Penske Automotive Group by 20.2% in the fourth quarter. Prudential PLC now owns 380,900 shares of the company’s stock worth $19,746,000 after buying an additional 63,900 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Penske Automotive Group during the fourth quarter worth about $233,000. Fiduciary Management Inc. WI raised its position in shares of Penske Automotive Group by 2.5% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,273,810 shares of the company’s stock worth $66,034,000 after buying an additional 31,335 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Penske Automotive Group during the fourth quarter worth about $882,000. 38.97% of the stock is owned by institutional investors and hedge funds.
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Penske Automotive Group (PAG) opened at 44.50 on Tuesday. The firm has a 50-day moving average price of $42.56 and a 200 day moving average price of $48.12. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 10.97 and a beta of 1.49. Penske Automotive Group has a 1-year low of $34.51 and a 1-year high of $56.05.
Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 26th. The company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Penske Automotive Group had a return on equity of 19.06% and a net margin of 1.70%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Penske Automotive Group will post $4.29 EPS for the current fiscal year.
About Penske Automotive Group
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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