Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $184.4286.

PAG has been the topic of several research analyst reports. Barclays began coverage on shares of Penske Automotive Group in a research report on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Citigroup boosted their price objective on Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st.

Penske Automotive Group Stock Performance

PAG opened at $164.26 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $189.51. The business has a 50 day moving average of $162.79 and a 200-day moving average of $170.75. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.24 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter last year, the company posted $3.39 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current year.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer owned 16,822 shares in the company, valued at $2,694,379.74. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently modified their holdings of the business. Rothschild Investment LLC increased its position in Penske Automotive Group by 935.3% during the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after acquiring an additional 159 shares during the period. Root Financial Partners LLC bought a new stake in Penske Automotive Group in the 3rd quarter valued at about $33,000. Sound Income Strategies LLC acquired a new position in shares of Penske Automotive Group during the 2nd quarter worth approximately $34,000. Acadian Asset Management LLC bought a new position in shares of Penske Automotive Group during the first quarter worth approximately $42,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Penske Automotive Group by 237.0% during the third quarter. Smartleaf Asset Management LLC now owns 310 shares of the company’s stock worth $54,000 after purchasing an additional 218 shares during the period. Institutional investors own 77.08% of the company’s stock.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.