Penske Automotive Group, Inc. (PAG) Raised to Buy at ValuEngine
ValuEngine upgraded shares of Penske Automotive Group, Inc. (NYSE:PAG) from a hold rating to a buy rating in a research note released on Monday morning.
Several other research analysts have also commented on the stock. Northcoast Research began coverage on shares of Penske Automotive Group in a research note on Thursday, September 28th. They set a buy rating and a $56.00 price objective for the company. BidaskClub lowered shares of Penske Automotive Group from a hold rating to a sell rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Penske Automotive Group from a sell rating to a hold rating in a research note on Thursday, July 27th. Wells Fargo & Company reiterated a market perform rating and set a $46.00 price objective (down previously from $54.00) on shares of Penske Automotive Group in a research note on Monday, July 17th. Finally, Morgan Stanley reduced their price objective on shares of Penske Automotive Group from $54.00 to $50.00 and set an overweight rating for the company in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $53.43.
Shares of Penske Automotive Group (NYSE PAG) opened at 47.45 on Monday. Penske Automotive Group has a 12-month low of $38.33 and a 12-month high of $56.05. The stock has a market cap of $4.08 billion, a PE ratio of 11.31 and a beta of 1.45. The stock’s 50 day moving average is $43.45 and its 200-day moving average is $43.94.
Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.20 by $0.07. The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.44 billion. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. Penske Automotive Group’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 EPS. Equities analysts expect that Penske Automotive Group will post $4.31 EPS for the current year.
In other Penske Automotive Group news, EVP Claude H. Denker III sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the sale, the executive vice president now owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 40.70% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC grew its position in Penske Automotive Group by 1.9% during the 2nd quarter. Lord Abbett & CO. LLC now owns 137,800 shares of the company’s stock worth $6,051,000 after purchasing an additional 2,600 shares during the last quarter. Phocas Financial Corp. purchased a new stake in Penske Automotive Group during the 2nd quarter worth approximately $5,091,000. Public Employees Retirement System of Ohio grew its position in Penske Automotive Group by 279.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 55,401 shares of the company’s stock worth $2,433,000 after purchasing an additional 40,803 shares during the last quarter. Koch Industries Inc. purchased a new stake in Penske Automotive Group during the 2nd quarter worth approximately $315,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Penske Automotive Group by 5.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,390 shares of the company’s stock worth $676,000 after purchasing an additional 850 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.
Penske Automotive Group Company Profile
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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