Penske Automotive Group (NYSE:PAG) Coverage Initiated at Benchmark

Investment analysts at Benchmark assumed coverage on shares of Penske Automotive Group (NYSE:PAG) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating on the stock.

Several other analysts also recently weighed in on PAG. JPMorgan Chase & Co. upped their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Stephens assumed coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price for the company. Finally, Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $170.25.

Penske Automotive Group Price Performance

PAG stock opened at $163.28 on Thursday. The company’s 50-day moving average price is $159.17 and its two-hundred day moving average price is $157.59. The firm has a market cap of $10.90 billion, a P/E ratio of 12.51 and a beta of 1.18. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $179.72.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.90 earnings per share. On average, analysts anticipate that Penske Automotive Group will post 13.5 earnings per share for the current fiscal year.

Institutional Trading of Penske Automotive Group

A number of hedge funds have recently made changes to their positions in PAG. Fifth Third Bancorp raised its holdings in Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its holdings in shares of Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Penske Automotive Group in the second quarter worth $69,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group in the third quarter valued at $94,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.