Penske Automotive Group, Inc. (NYSE:PAG) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $46.00 target price (down from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. Finally, Morgan Stanley dropped their target price on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Penske Automotive Group presently has an average rating of “Hold” and a consensus target price of $52.67.

Shares of Penske Automotive Group (PAG) opened at 43.11 on Friday. Penske Automotive Group has a one year low of $38.33 and a one year high of $56.05. The stock’s 50 day moving average price is $42.14 and its 200-day moving average price is $44.83. The stock has a market cap of $3.71 billion, a PE ratio of 10.28 and a beta of 1.48.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The company had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the prior year, the firm posted $1.11 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that Penske Automotive Group will post $4.31 earnings per share for the current fiscal year.

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In other news, EVP Claude H. Denker III sold 5,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $41.27, for a total transaction of $206,350.00. Following the transaction, the executive vice president now owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 40.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PAG. Lord Abbett & CO. LLC raised its position in shares of Penske Automotive Group by 1.9% in the second quarter. Lord Abbett & CO. LLC now owns 137,800 shares of the company’s stock worth $6,051,000 after buying an additional 2,600 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of Penske Automotive Group during the second quarter worth approximately $5,091,000. Public Employees Retirement System of Ohio raised its position in shares of Penske Automotive Group by 279.5% in the second quarter. Public Employees Retirement System of Ohio now owns 55,401 shares of the company’s stock worth $2,433,000 after buying an additional 40,803 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Penske Automotive Group during the second quarter worth approximately $315,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Penske Automotive Group by 5.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,390 shares of the company’s stock worth $676,000 after buying an additional 850 shares in the last quarter. 39.85% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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