Penske Automotive Group, Inc. (NYSE:PAG) Receives $163.20 Consensus Target Price from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $163.20.

PAG has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Bank of America increased their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th.

Penske Automotive Group Price Performance

NYSE:PAG opened at $153.22 on Friday. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 10.66 and a beta of 1.21. The company has a 50-day moving average of $153.82 and a 200-day moving average of $152.92. Penske Automotive Group has a 52 week low of $136.45 and a 52 week high of $180.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.35 by ($0.14). The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.31 EPS. As a group, equities research analysts anticipate that Penske Automotive Group will post 13.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Penske Automotive Group news, Director John Barr sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the sale, the director now owns 716 shares in the company, valued at approximately $110,299.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Penske Automotive Group news, Director John Barr sold 1,600 shares of Penske Automotive Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the transaction, the director now directly owns 716 shares in the company, valued at $110,299.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now directly owns 51,001 shares in the company, valued at approximately $7,618,529.38. The disclosure for this sale can be found here. Company insiders own 52.20% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Penske Automotive Group during the 4th quarter worth about $30,844,000. Invesco Ltd. lifted its stake in Penske Automotive Group by 164.3% in the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after acquiring an additional 181,995 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Penske Automotive Group by 43.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock worth $48,423,000 after acquiring an additional 87,590 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Penske Automotive Group by 4,712.6% during the 3rd quarter. Principal Financial Group Inc. now owns 72,044 shares of the company’s stock worth $12,036,000 after acquiring an additional 70,547 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Penske Automotive Group by 15,960.7% in the fourth quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after purchasing an additional 66,556 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.