Penske Automotive Group’s Neutral Rating Reaffirmed at Zacks (PAG)
Penske Automotive Group (NYSE:PAG)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Wednesday, Analyst Ratings.Net reports. They currently have a $44.00 target price on the stock. Zacks‘s price objective would suggest a potential upside of 2.68% from the company’s current price.
Zacks’ analyst wrote, “Penske’s fourth-quarter 2013 earnings improved 19.3% year over year to $0.68, exceeding the Zacks Consensus Estimate by $0.02. Revenues grew 15% year over year to $3.9 billion, surpassing the Zacks Consensus Estimate of $3.8 billion. Penske is poised to benefit from increasing dealerships, rising sales of new vehicles and a strong financial position. The company also increased its dividend, which will add value to shareholders. However, increasing competition, a high inventory level and exposure to foreign exchange rates are some negatives. Thus, we are maintaining our Neutral recommendation on the stock. “
A number of other firms have also recently commented on PAG. Analysts at Sterne Agee upgraded shares of Penske Automotive Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 2nd. They now have a $52.00 price target on the stock. Analysts at Morgan Stanley raised their price target on shares of Penske Automotive Group from $42.00 to $46.00 in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.25.
Shares of Penske Automotive Group (NYSE:PAG) traded up 1.84% during mid-day trading on Wednesday, hitting $42.71. 185,592 shares of the company’s stock traded hands. Penske Automotive Group has a 52 week low of $27.61 and a 52 week high of $47.79. The stock’s 50-day moving average is $43.57 and its 200-day moving average is $43.07. The company has a market cap of $3.854 billion and a price-to-earnings ratio of 15.53.
Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts predict that Penske Automotive Group will post $3.16 earnings per share for the current fiscal year.
Penske Automotive Group, Inc is an automotive retailer. The Company is engaged in the sale of new and used motor vehicles and related products and services, including vehicle service, collision repair, and placement of finance and lease contracts, third-party insurance products and other aftermarket products.
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