Penske Automotive Group, Inc. (PAG) Given Hold Rating at KeyCorp
Penske Automotive Group, Inc. (NYSE:PAG)‘s stock had its “hold” rating reaffirmed by KeyCorp in a research note issued on Wednesday.
Other analysts have also recently issued reports about the company. BidaskClub upgraded Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Morgan Stanley cut their target price on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. ValuEngine upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday. Berenberg Bank started coverage on Penske Automotive Group in a report on Wednesday. They set a “hold” rating and a $52.00 price target on the stock. Finally, Northcoast Research started coverage on shares of Penske Automotive Group in a research report on Thursday, September 28th. They set a “buy” rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Penske Automotive Group presently has a consensus rating of “Hold” and a consensus target price of $53.00.
Penske Automotive Group (PAG) traded down 0.65% during mid-day trading on Wednesday, reaching $47.62. 98,194 shares of the company were exchanged. Penske Automotive Group has a 1-year low of $38.33 and a 1-year high of $56.05. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 11.35 and a beta of 1.45. The company has a 50 day moving average of $43.26 and a 200-day moving average of $43.92.
Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The firm had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts forecast that Penske Automotive Group will post $4.31 EPS for the current year.
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In other Penske Automotive Group news, EVP Claude H. Denker III sold 5,000 shares of Penske Automotive Group stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $41.27, for a total value of $206,350.00. Following the sale, the executive vice president now owns 22,243 shares in the company, valued at $917,968.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 40.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC acquired a new stake in shares of Penske Automotive Group during the 1st quarter worth about $100,000. Meadow Creek Investment Management LLC purchased a new stake in Penske Automotive Group in the 1st quarter valued at about $113,000. Bank of Montreal Can raised its holdings in Penske Automotive Group by 9.0% in the 3rd quarter. Bank of Montreal Can now owns 2,412 shares of the company’s stock valued at $116,000 after buying an additional 200 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Penske Automotive Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after buying an additional 175 shares during the period. Finally, Glen Harbor Capital Management LLC purchased a new stake in Penske Automotive Group in the 1st quarter valued at about $137,000. Institutional investors and hedge funds own 39.83% of the company’s stock.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.
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