Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $184.4286.

PAG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Bank of America started coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 target price for the company. Barclays assumed coverage on shares of Penske Automotive Group in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.17, for a total value of $336,357.00. Following the completion of the transaction, the chief financial officer directly owned 16,822 shares in the company, valued at $2,694,379.74. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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. increased its position in Penske Automotive Group by 48.9% during the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock worth $241,958,000 after buying an additional 456,611 shares during the last quarter. Norges Bank acquired a new stake in shares of Penske Automotive Group in the second quarter valued at approximately $32,425,000. Hamlin Capital Management LLC bought a new position in shares of Penske Automotive Group during the 4th quarter worth approximately $20,203,000. AQR Capital Management LLC increased its holdings in shares of Penske Automotive Group by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 681,741 shares of the company’s stock worth $116,953,000 after acquiring an additional 118,976 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 acquiring an additional 84,045 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $162.99 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.21. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The stock’s 50-day moving average is $163.10 and its 200-day moving average is $170.29. Penske Automotive Group has a one year low of $134.05 and a one year high of $189.51.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the previous year, the business posted $3.39 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

About Penske Automotive Group

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.