Penske Automotive Group (NYSE:PAG) Upgraded to Buy at StockNews.com

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

Several other analysts have also issued reports on PAG. JPMorgan Chase & Co. boosted their target price 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. Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. Finally, Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Stock Performance

Shares of PAG stock traded up $1.24 on Monday, reaching $164.83. The stock had a trading volume of 214,941 shares, compared to its average volume of 189,261. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $180.12. The stock has a market cap of $11.01 billion, a P/E ratio of 11.99 and a beta of 1.20. The company has a 50 day simple moving average of $161.05 and a 200 day simple moving average of $160.54.

Penske Automotive Group (NYSE:PAG) last announced 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. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Equities research analysts expect that Penske Automotive Group will post 13.86 EPS for the current year.

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew 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 valued at $40,000 after buying an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Penske Automotive Group in the 4th quarter valued at about $40,000. True Wealth Design LLC lifted its holdings in shares of Penske Automotive Group by 14,833.3% in the 3rd 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. grew its position in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after acquiring an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Penske Automotive Group during the fourth quarter worth approximately $76,000. Institutional investors own 77.08% of the company’s stock.

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.