Penske Automotive Group (NYSE:PAG) Price Target Raised to $165.00 at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $160.00 to $165.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.10% from the stock’s previous close.

A number of other analysts have also commented on the company. Benchmark initiated coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating for the company. Stephens restated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $172.50.

Penske Automotive Group Trading Down 0.7 %

Shares of Penske Automotive Group stock traded down $1.22 on Wednesday, reaching $170.29. 25,939 shares of the company’s stock were exchanged, compared to its average volume of 181,549. The company has a market capitalization of $11.37 billion, a P/E ratio of 12.38 and a beta of 1.20. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $180.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm’s 50-day moving average is $160.69 and its two-hundred day moving average is $160.34.

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

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Penske Automotive Group during the 4th quarter valued at $40,000. True Wealth Design LLC raised its stake in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. boosted its holdings in shares of Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after buying an additional 453 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Penske Automotive Group during the fourth quarter valued at about $76,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.