Penske Automotive Group, Inc. (PAG) Receives $55.71 Consensus Target Price from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $56.00.

PAG has been the topic of several research reports. Northcoast Research initiated coverage on Penske Automotive Group in a research report on Thursday, September 28th. They set a “buy” rating and a $56.00 price objective on the stock. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Berenberg Bank initiated coverage on shares of Penske Automotive Group in a report on Wednesday, October 4th. They set a “hold” rating and a $52.00 target price for the company. KeyCorp reiterated a “hold” rating on shares of Penske Automotive Group in a report on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Friday, October 20th.

In other news, EVP Shane M. Spradlin sold 3,188 shares of Penske Automotive Group stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $47.41, for a total transaction of $151,143.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Corp Penske bought 1,103,996 shares of the stock in a transaction dated Friday, October 20th. The shares were acquired at an average price of $45.29 per share, with a total value of $49,999,978.84. Following the completion of the acquisition, the insider now directly owns 11,564,576 shares of the company’s stock, valued at approximately $523,759,647.04. The disclosure for this purchase can be found here. 40.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in Penske Automotive Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock worth $110,000 after acquiring an additional 175 shares during the last quarter. Federated Investors Inc. PA raised its holdings in Penske Automotive Group by 5.2% in the 2nd quarter. Federated Investors Inc. PA now owns 8,495 shares of the company’s stock worth $373,000 after acquiring an additional 420 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Penske Automotive Group by 1.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 38,453 shares of the company’s stock worth $1,688,000 after acquiring an additional 580 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Penske Automotive Group by 11.9% in the 2nd quarter. Pacer Advisors Inc. now owns 5,854 shares of the company’s stock worth $257,000 after acquiring an additional 624 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Penske Automotive Group by 5.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,390 shares of the company’s stock worth $676,000 after acquiring an additional 850 shares during the last quarter. Institutional investors own 41.40% of the company’s stock.

Penske Automotive Group (NYSE:PAG) traded up $1.26 during trading on Monday, reaching $49.78. The company’s stock had a trading volume of 565,698 shares, compared to its average volume of 355,035. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.23 and a current ratio of 1.04. The company has a market cap of $4,161.47, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.64 and a beta of 1.46. Penske Automotive Group has a fifty-two week low of $38.33 and a fifty-two week high of $55.26.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. The business had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Penske Automotive Group had a return on equity of 18.68% and a net margin of 1.75%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. equities analysts forecast that Penske Automotive Group will post 4.3 EPS for the current year.

Penske Automotive Group declared that its board has initiated a stock buyback plan on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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About Penske Automotive Group

Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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