Penske Automotive Group (NYSE:PAG) Upgraded 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 research note issued to investors on Monday.

Other research analysts also recently issued reports about the stock. Benchmark initiated coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their price objective 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.50.

Penske Automotive Group Trading Up 0.8 %

NYSE PAG traded up $1.24 during trading on Monday, hitting $164.83. 214,941 shares of the company’s stock traded hands, compared to its average volume of 189,261. The firm has a market cap of $11.01 billion, a P/E ratio of 11.99 and a beta of 1.20. The stock has a fifty day moving average of $161.05 and a two-hundred day moving average of $160.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group has a 12-month low of $142.32 and a 12-month high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.37 by $0.17. The company had revenue of $7.72 billion during 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%. As a group, sell-side 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 firm’s stock in a transaction that occurred on 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 in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 51.70% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Penske Automotive Group in the fourth quarter worth $22,049,000. Moran Wealth Management LLC bought a new position in Penske Automotive Group in the 4th quarter worth about $14,157,000. International Assets Investment Management LLC grew its position in Penske Automotive Group by 12,674.5% during the 3rd quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock valued at $9,606,000 after purchasing an additional 58,683 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Penske Automotive Group by 24.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after purchasing an additional 51,720 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Penske Automotive Group by 43.9% in the fourth quarter. Millennium Management LLC now owns 128,283 shares of the company’s stock worth $19,555,000 after buying an additional 39,113 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

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.