Penske Automotive Group (PAG) Set to Announce Quarterly Earnings on Monday

Penske Automotive Group (NYSE:PAG) is scheduled to be announcing its earnings results before the market opens on Monday, February 5th. Analysts expect the company to announce earnings of $1.00 per share for the quarter.

Penske Automotive Group (NYSE:PAG) opened at $54.55 on Monday. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.03. Penske Automotive Group has a twelve month low of $38.33 and a twelve month high of $55.26. The stock has a market capitalization of $4,617.75, a PE ratio of 12.81, a P/E/G ratio of 1.57 and a beta of 1.46.

Penske Automotive Group declared that its board has initiated a share buyback plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

A number of research analysts recently issued reports on PAG shares. Zacks Investment Research raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, December 26th. ValuEngine raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Gabelli lifted their price target on Penske Automotive Group from $68.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Berenberg Bank started coverage on Penske Automotive Group in a report on Wednesday, October 4th. They set a “hold” rating and a $52.00 price objective for the company. Finally, KeyCorp reissued a “hold” rating on shares of Penske Automotive Group in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.14.

In other Penske Automotive Group news, CFO John D. Jr. Carlson sold 7,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $46.20, for a total transaction of $323,400.00. Following the completion of the sale, the chief financial officer now directly owns 24,844 shares of the company’s stock, valued at approximately $1,147,792.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shane M. Spradlin sold 3,188 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $47.41, for a total value of $151,143.08. The disclosure for this sale can be found here. Insiders own 40.70% of the company’s stock.

An institutional investor recently raised its position in Penske Automotive Group stock. The Manufacturers Life Insurance Company grew its stake in Penske Automotive Group, Inc. (NYSE:PAG) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,499 shares of the company’s stock after acquiring an additional 175 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Penske Automotive Group were worth $110,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.39% of the company’s stock.

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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.

Earnings History for Penske Automotive Group (NYSE:PAG)

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