Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $183.7143.

A number of research analysts recently issued reports on PAG shares. Bank of America started coverage on Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price objective for the company. Barclays decreased 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 research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. JPMorgan Chase & Co. reduced 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 report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $166.47 on Tuesday. The company has a fifty day moving average price of $163.58 and a 200 day moving average price of $168.90. The firm has a market cap of $10.96 billion, a PE ratio of 11.71, a PEG ratio of 2.29 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. Penske Automotive Group has a 1-year low of $134.05 and a 1-year high of $189.51.

Insider Activity

In related news, CFO Michelle Hulgrave sold 2,100 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 52.40% 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 PAG. 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. grew its position in shares of Penske Automotive Group by 3.1% in the 2nd 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 period. 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. increased its stake in shares of Penske Automotive Group by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after purchasing an additional 84,045 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Penske Automotive Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 343,070 shares of the company’s stock valued at $54,315,000 after purchasing an additional 4,473 shares during the period. Institutional investors 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.