Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $183.7143.

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Citigroup boosted their price objective on Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Bank of America began coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays lowered their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.17, for a total value of $336,357.00. Following the transaction, the chief financial officer owned 16,822 shares in the company, valued at approximately $2,694,379.74. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 51.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Penske Automotive Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Kendall Capital Management lifted its holdings in shares of Penske Automotive Group by 1.0% in the fourth quarter. Kendall Capital Management now owns 7,390 shares of the company’s stock valued at $1,170,000 after purchasing an additional 75 shares in the last quarter. Applied Capital LLC FL raised its position in Penske Automotive Group by 9.1% in the 4th quarter. Applied Capital LLC FL now owns 26,905 shares of the company’s stock valued at $4,259,000 after buying an additional 2,238 shares during the last quarter. Nilsine Partners LLC lifted its stake in Penske Automotive Group by 7.2% during the 4th quarter. Nilsine Partners LLC now owns 22,989 shares of the company’s stock valued at $3,639,000 after acquiring an additional 1,548 shares in the last quarter. TrueMark Investments LLC purchased a new position in Penske Automotive Group during the 4th quarter worth $639,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Penske Automotive Group in the 4th quarter worth $208,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 2.4%

PAG opened at $163.21 on Friday. The stock has a market cap of $10.75 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $163.30 and its 200 day simple moving average is $170.22. Penske Automotive Group has a 1-year low of $134.05 and a 1-year high of $189.51.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, October 29th. The company reported $3.23 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.25). Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same period in the previous year, the company posted $3.39 EPS. Penske Automotive Group’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current year.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.