Penske Automotive Group (NYSE:PAG) Stock Rating Upgraded by StockNews.com

Penske Automotive Group (NYSE:PAG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Other research analysts have also recently issued reports about the stock. Stephens reissued an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $172.50.

Penske Automotive Group Stock Up 1.7 %

Shares of NYSE PAG opened at $167.53 on Monday. The stock has a fifty day moving average price of $161.17 and a 200 day moving average price of $160.58. The company has a market cap of $11.19 billion, a P/E ratio of 12.18 and a beta of 1.20. Penske Automotive Group has a 12-month low of $142.32 and a 12-month high of $180.12. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Research analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 51.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently made changes to their positions in the company. Wealthspire Advisors LLC boosted its holdings in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Penske Automotive Group by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock valued at $316,000 after buying an additional 69 shares during the period. Blue Chip Partners LLC boosted its holdings in shares of Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock valued at $1,617,000 after buying an additional 73 shares during the period. GAMMA Investing LLC grew its position in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after buying an additional 81 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Penske Automotive Group by 0.5% during the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after acquiring an additional 82 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Company Profile

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.