Evercore ISI downgraded shares of Penske Automotive Group Inc. (NYSE:PAG) from a hold rating to a sell rating in a research note released on Thursday morning. Evercore ISI currently has $39.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Penske Automotive Group from a hold rating to a sell rating in a research report on Monday, October 3rd. Stifel Nicolaus lowered Penske Automotive Group from a buy rating to a hold rating in a research report on Friday, September 16th. Gabelli lowered Penske Automotive Group from a buy rating to a hold rating in a research report on Thursday, September 15th. Finally, Seaport Global Securities initiated coverage on Penske Automotive Group in a research report on Tuesday, August 9th. They issued a neutral rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $43.50.

Shares of Penske Automotive Group (NYSE:PAG) traded up 0.47% on Thursday, hitting $44.94. The stock had a trading volume of 239,138 shares. Penske Automotive Group has a 12-month low of $29.29 and a 12-month high of $51.52. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 12.00 and a beta of 1.56. The stock has a 50 day moving average of $47.54 and a 200 day moving average of $39.61.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02. The business earned $5.30 billion during the quarter, compared to analyst estimates of $5.17 billion. Penske Automotive Group had a return on equity of 18.75% and a net margin of 1.65%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. Equities analysts predict that Penske Automotive Group will post $3.89 earnings per share for the current fiscal year.

In other news, EVP Shane M. Spradlin sold 4,900 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $48.31, for a total value of $236,719.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Corp Penske acquired 327,602 shares of Penske Automotive Group stock in a transaction dated Friday, September 9th. The stock was bought at an average price of $48.07 per share, for a total transaction of $15,747,828.14. The disclosure for this purchase can be found here. Company insiders own 37.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Fiduciary Management Inc. WI bought a new stake in shares of Penske Automotive Group during the second quarter valued at about $31,193,000. Burgundy Asset Management Ltd. boosted its stake in shares of Penske Automotive Group by 12.1% in the second quarter. Burgundy Asset Management Ltd. now owns 2,588,167 shares of the company’s stock valued at $81,424,000 after buying an additional 280,120 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Penske Automotive Group by 53.3% in the second quarter. JPMorgan Chase & Co. now owns 671,209 shares of the company’s stock valued at $21,116,000 after buying an additional 233,409 shares during the last quarter. HHR Asset Management LLC boosted its stake in shares of Penske Automotive Group by 59.5% in the second quarter. HHR Asset Management LLC now owns 550,460 shares of the company’s stock valued at $17,317,000 after buying an additional 205,320 shares during the last quarter. Finally, Connors Investor Services Inc. bought a new stake in shares of Penske Automotive Group during the second quarter valued at about $6,266,000. Institutional investors and hedge funds own 40.52% of the company’s stock.

About Penske Automotive Group

Penske Automotive Group, Inc is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles, diesel engines, gas engines, power systems and related parts, and services in Australia and New Zealand.

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