JPMorgan Chase & Co. Lowers Penske Automotive Group (NYSE:PAG) Price Target to $165.00

Penske Automotive Group (NYSE:PAG) had its target price dropped by analysts at JPMorgan Chase & Co. from $170.00 to $165.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.21% from the company’s current price.

Several other research firms have also recently weighed in on PAG. Citigroup reduced their price target on shares of Penske Automotive Group from $200.00 to $193.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Barclays reduced their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings cut shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Penske Automotive Group has an average rating of “Moderate Buy” and an average price target of $180.43.

Penske Automotive Group Stock Up 3.5%

Penske Automotive Group stock opened at $161.44 on Friday. The stock has a market capitalization of $10.61 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.04 and a beta of 0.87. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $189.51. The company has a quick ratio of 0.22, a current ratio of 0.99 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $155.57 and a 200-day moving average of $160.86.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.19 by ($0.28). The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 EPS. On average, equities research analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Penske Automotive Group by 2.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after purchasing an additional 65 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Penske Automotive Group by 5.4% during the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after purchasing an additional 65 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Penske Automotive Group by 0.4% during the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock worth $3,167,000 after purchasing an additional 65 shares during the last quarter. Rothschild Investment LLC boosted its holdings in Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after purchasing an additional 66 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Penske Automotive Group by 11.0% during the third quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock worth $116,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

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.