Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) Price Target at $163.20

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $163.20.

PAG has been the topic of several research reports. Bank of America boosted their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley increased their target price on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $156.06 on Friday. The company has a market capitalization of $10.44 billion, a P/E ratio of 10.85 and a beta of 1.21. The business has a fifty day simple moving average of $153.90 and a two-hundred day simple moving average of $152.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23. Penske Automotive Group has a 1 year low of $136.45 and a 1 year high of $180.84.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.35 by ($0.14). The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $4.31 EPS. On average, analysts expect that Penske Automotive Group will post 13.8 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John Barr sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now owns 716 shares of the company’s stock, valued at $110,299.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John Barr sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the completion of the transaction, the director now directly owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the sale, the director now owns 51,001 shares in the company, valued at approximately $7,618,529.38. The disclosure for this sale can be found here. 52.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Penske Automotive Group during the fourth quarter valued at about $30,844,000. Invesco Ltd. grew its holdings in shares of Penske Automotive Group by 164.3% during the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock worth $48,908,000 after acquiring an additional 181,995 shares during the period. Bank of New York Mellon Corp raised its position in shares of Penske Automotive Group by 43.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 289,854 shares of the company’s stock worth $48,423,000 after acquiring an additional 87,590 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Penske Automotive Group by 4,712.6% in the 3rd quarter. Principal Financial Group Inc. now owns 72,044 shares of the company’s stock valued at $12,036,000 after purchasing an additional 70,547 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Penske Automotive Group by 15,960.7% during the fourth quarter. International Assets Investment Management LLC now owns 66,973 shares of the company’s stock valued at $10,750,000 after purchasing an additional 66,556 shares in the last quarter. 77.08% of the stock is owned by 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.