Barclays Has Lowered Expectations for Penske Automotive Group (NYSE:PAG) Stock Price

Penske Automotive Group (NYSE:PAG) had its price objective reduced by investment analysts at Barclays from $195.00 to $190.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 28.40% from the stock’s previous close.

PAG has been the topic of a number of other research reports. Weiss Ratings lowered Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. JPMorgan Chase & Co. dropped their target price on Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Finally, Bank of America started coverage on Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and an average price target of $183.00.

Penske Automotive Group Stock Down 0.5%

Shares of PAG stock traded down $0.74 during trading hours on Tuesday, reaching $147.97. The company had a trading volume of 49,860 shares, compared to its average volume of 291,744. Penske Automotive Group has a 12 month low of $138.24 and a 12 month high of $189.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22. The business has a fifty day simple moving average of $156.43 and a 200-day simple moving average of $161.90. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.28). Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. During the same quarter in the prior year, the business earned $3.54 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Institutional Trading of Penske Automotive Group

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Penske Automotive Group by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after buying an additional 65 shares during the last quarter. Aptus Capital Advisors LLC increased its position in Penske Automotive Group by 5.4% in the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after buying an additional 65 shares during the last quarter. California State Teachers Retirement System increased its position in Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock worth $3,167,000 after buying an additional 65 shares during the last quarter. Rothschild Investment LLC increased its position in Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after buying an additional 66 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Penske Automotive Group by 11.0% in the third quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock worth $116,000 after buying an additional 67 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 (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.