Penske Automotive Group (NYSE:PAG) Issues Earnings Results

Penske Automotive Group (NYSE:PAG) issued its quarterly earnings data on Tuesday. The company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14), Yahoo Finance reports. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the firm posted $4.31 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis.

Penske Automotive Group Stock Performance

PAG stock traded down $1.43 during midday trading on Wednesday, hitting $151.48. The company’s stock had a trading volume of 22,005 shares, compared to its average volume of 199,660. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 9.79 and a beta of 1.19. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $153.53 and its 200 day moving average price is $152.82. Penske Automotive Group has a 1 year low of $133.72 and a 1 year high of $180.84.

Insider Activity

In related news, Director Greg C. Smith sold 1,604 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the transaction, the director now directly owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now owns 51,001 shares in the company, valued at approximately $7,618,529.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. Insiders own 52.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PAG has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Bank of America increased their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Penske Automotive Group has an average rating of “Hold” and an average price target of $163.20.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.