Penske Automotive Group (NYSE:PAG) had its price objective lifted by Morgan Stanley from $50.00 to $54.00 in a report released on Wednesday. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 14.50% from the company’s previous close.
Several other research firms have also weighed in on PAG. Zacks Investment Research raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, January 9th. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Bank of America upped their target price on shares of Penske Automotive Group from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Penske Automotive Group has a consensus rating of “Buy” and a consensus target price of $56.14.
Shares of Penske Automotive Group (PAG) traded up $0.25 during trading on Wednesday, reaching $47.16. 78,118 shares of the company’s stock traded hands, compared to its average volume of 506,700. The company has a market cap of $4,030.27, a price-to-earnings ratio of 6.60, a PEG ratio of 1.17 and a beta of 1.52. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.22. Penske Automotive Group has a 12-month low of $38.33 and a 12-month high of $54.83.
Institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in Penske Automotive Group by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock worth $110,000 after acquiring an additional 175 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Penske Automotive Group during the 4th quarter worth about $129,000. Commonwealth Equity Services Inc bought a new stake in Penske Automotive Group during the 3rd quarter worth about $199,000. Jane Street Group LLC bought a new stake in Penske Automotive Group during the 3rd quarter worth about $201,000. Finally, Stephens Inc. AR bought a new stake in Penske Automotive Group during the 3rd quarter worth about $230,000. 41.31% of the stock is currently owned by institutional investors and hedge funds.
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About Penske Automotive Group
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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