Penske Automotive Group (NYSE:PAG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $57.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.57% from the company’s current price.
According to Zacks, “The Zacks Consensus Estimate for Penske Automotive’s annual earnings has been going up of late. The company’s retail automotive segment is driving revenues due to its widened geographic presence, and varied product and service range. It also increases it dividend payouts in almost every quarter and also repurchases shares to boost shareholders’ confidence. The company makes frequent acquisitions to expand its presence in the United States and the United Kingdom. Moreover, in the last three months, shares of Penske Automotive have outperformed the industry it belongs to.”
PAG has been the subject of a number of other reports. Guggenheim assumed coverage on Penske Automotive Group in a report on Monday, April 16th. They set a “buy” rating and a $50.00 price target for the company. ValuEngine downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Morgan Stanley lifted their price target on Penske Automotive Group from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.50.
Penske Automotive Group traded up $0.10, reaching $51.09, during trading on Tuesday, according to Marketbeat Ratings. 1,194 shares of the company’s stock were exchanged, compared to its average volume of 264,308. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.36 and a beta of 1.50. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.23. Penske Automotive Group has a 1 year low of $38.33 and a 1 year high of $54.83.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, April 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.12. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.32 billion. Penske Automotive Group had a return on equity of 17.56% and a net margin of 2.90%. Penske Automotive Group’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 EPS. equities research analysts expect that Penske Automotive Group will post 5.17 earnings per share for the current year.
In other news, Director Kimberly J. Mcwaters sold 5,000 shares of Penske Automotive Group stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $48.58, for a total transaction of $242,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Shane M. Spradlin sold 2,150 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $48.35, for a total value of $103,952.50. The disclosure for this sale can be found here. Insiders have sold 1,140,166 shares of company stock worth $50,346,849 in the last quarter. Insiders own 41.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Stratos Wealth Partners LTD. acquired a new position in Penske Automotive Group in the 1st quarter valued at about $102,000. SG Americas Securities LLC acquired a new position in Penske Automotive Group in the 1st quarter valued at about $155,000. Thompson Siegel & Walmsley LLC acquired a new position in Penske Automotive Group in the 1st quarter valued at about $222,000. Investors Research Corp acquired a new position in Penske Automotive Group in the 4th quarter valued at about $263,000. Finally, Jane Street Group LLC acquired a new position in Penske Automotive Group in the 1st quarter valued at about $270,000. Hedge funds and other institutional investors own 42.23% of the company’s stock.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.
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