Penske Automotive Group Inc. (PAG) Receives Consensus Rating of “Hold” from Analysts
Shares of Penske Automotive Group Inc. (NYSE:PAG) have received an average rating of “Hold” from the eight research firms that are covering the company. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $39.00.
Several research analysts recently issued reports on PAG shares. Zacks Investment Research lowered Penske Automotive Group from a “hold” rating to a “strong sell” rating in a research report on Monday, July 18th. Evercore ISI downgraded Penske Automotive Group from a “hold” rating to a “sell” rating and set a $39.00 price target for the company. in a report on Thursday, October 13th. Gabelli downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Stifel Nicolaus downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Finally, Seaport Global Securities assumed coverage on Penske Automotive Group in a report on Tuesday, August 9th. They set a “neutral” rating for the company.
Shares of Penske Automotive Group (NYSE:PAG) opened at 45.32 on Friday. The stock has a 50 day moving average price of $47.62 and a 200-day moving average price of $39.78. Penske Automotive Group has a one year low of $29.29 and a one year high of $51.33. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 12.10 and a beta of 1.56.
Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, July 28th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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%. Penske Automotive Group’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. On average, equities research analysts expect that Penske Automotive Group will post $3.89 EPS for the current year.
In related news, CEO Roger S. Penske bought 151,412 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was bought at an average cost of $39.85 per share, for a total transaction of $6,033,768.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Corp Penske bought 710,121 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was bought at an average price of $39.10 per share, with a total value of $27,765,731.10. The disclosure for this purchase can be found here. 37.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PAG. Pacer Advisors Inc. bought a new position in shares of Penske Automotive Group during the second quarter valued at about $122,000. Panagora Asset Management Inc. bought a new position in shares of Penske Automotive Group during the second quarter valued at about $159,000. Teacher Retirement System of Texas raised its position in shares of Penske Automotive Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,279 shares of the company’s stock valued at $198,000 after buying an additional 763 shares during the period. Suntrust Banks Inc. raised its position in shares of Penske Automotive Group by 8.0% in the second quarter. Suntrust Banks Inc. now owns 6,675 shares of the company’s stock valued at $208,000 after buying an additional 492 shares during the period. Finally, Private Trust Co. NA bought a new position in shares of Penske Automotive Group during the third quarter valued at about $231,000. Institutional investors own 40.65% of the company’s stock.
Penske Automotive Group Company Profile
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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