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

Penske Automotive Group, Inc. (NYSE:PAG) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $184.4286.

Several equities analysts have recently weighed in on PAG shares. Barclays began coverage on shares of Penske Automotive Group in a research note on Tuesday, November 11th. They set an “overweight” rating and a $195.00 price target for the company. Bank of America initiated coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. JPMorgan Chase & Co. lowered their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st.

Insider Buying and Selling

In related 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 transaction of $336,357.00. Following the completion of the transaction, the chief financial officer directly owned 16,822 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 51.70% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in shares of Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after buying an additional 456,611 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in Penske Automotive Group by 3.1% in the second quarter. Burgundy Asset Management Ltd. now owns 890,356 shares of the company’s stock valued at $152,972,000 after acquiring an additional 26,827 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Penske Automotive Group by 6.6% in the 3rd quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock valued at $125,043,000 after acquiring an additional 44,749 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after acquiring an additional 84,045 shares during the period. Finally, Norges Bank acquired a new position in shares of Penske Automotive Group during the 2nd quarter worth about $32,425,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

PAG opened at $164.26 on Friday. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 11.56, a P/E/G ratio of 2.24 and a beta of 0.92. The business’s 50-day moving average price is $162.79 and its two-hundred day moving average price is $170.75. Penske Automotive Group has a 1 year low of $134.05 and a 1 year high of $189.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.21.

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