Penske Automotive Group (NYSE:PAG) PT Raised to $160.00

Penske Automotive Group (NYSE:PAG) had its price target lifted by JPMorgan Chase & Co. from $140.00 to $160.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 7.79% from the stock’s current price.

Separately, Bank of America lifted their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Penske Automotive Group currently has a consensus rating of “Hold” and an average price target of $162.75.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $148.44 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Penske Automotive Group has a 52 week low of $137.95 and a 52 week high of $179.72. The firm’s 50 day moving average is $160.35 and its two-hundred day moving average is $155.39. The firm has a market capitalization of $9.93 billion, a P/E ratio of 10.32 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same period last year, the firm posted $4.41 EPS. The company’s revenue was up 3.1% on a year-over-year basis. Research analysts forecast that Penske Automotive Group will post 13.83 EPS for the current fiscal year.

Insider Buying and Selling at Penske Automotive Group

In related news, Director John Barr sold 716 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. 51.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Penske Automotive Group

Several hedge funds have recently modified their holdings of PAG. Creative Planning raised its holdings in Penske Automotive Group by 10.3% during the second quarter. Creative Planning now owns 1,927 shares of the company’s stock worth $287,000 after purchasing an additional 180 shares in the last quarter. Algert Global LLC purchased a new position in shares of Penske Automotive Group during the 2nd quarter worth approximately $302,000. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Penske Automotive Group by 720.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company’s stock valued at $3,546,000 after buying an additional 20,896 shares during the period. Millennium Management LLC boosted its stake in shares of Penske Automotive Group by 9.1% in the second quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock valued at $18,818,000 after buying an additional 10,522 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Penske Automotive Group by 31.1% during the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock worth $62,280,000 after acquiring an additional 99,164 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Company Profile

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.