JPMorgan Chase & Co. Lowers Penske Automotive Group (NYSE:PAG) Price Target to $140.00

Penske Automotive Group (NYSE:PAG) had its price objective cut by JPMorgan Chase & Co. from $165.00 to $140.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.70% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Stephens reaffirmed an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. Finally, StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Penske Automotive Group currently has an average rating of “Moderate Buy” and an average price target of $166.25.

Penske Automotive Group Trading Down 2.4 %

PAG stock opened at $140.99 on Thursday. Penske Automotive Group has a 1-year low of $139.56 and a 1-year 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. The business’s 50 day moving average is $162.15 and its 200-day moving average is $159.34. The firm has a market cap of $9.41 billion, a P/E ratio of 10.25 and a beta of 1.24.

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

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction 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. The trade was a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Institutional Trading of Penske Automotive Group

A number of large investors have recently bought and sold shares of PAG. Wealthspire Advisors LLC raised its stake in Penske Automotive Group by 2.4% during the 4th quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after buying an additional 63 shares during the period. Blue Chip Partners LLC boosted its holdings in Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock worth $1,617,000 after buying an additional 73 shares during the period. GAMMA Investing LLC lifted its holdings in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Penske Automotive Group by 0.5% in the 3rd quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after purchasing an additional 82 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Penske Automotive Group by 5.1% in the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after acquiring an additional 88 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.