UBS Group Upgrades Penske Automotive Group (NYSE:PAG) to Hold

Penske Automotive Group (NYSE:PAG) was upgraded by equities research analysts at UBS Group to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on PAG. Barclays dropped their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley restated an “overweight” rating and set a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday, May 7th. Stephens increased their target price on shares of Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $182.63.

Penske Automotive Group Price Performance

Shares of PAG stock opened at $168.39 on Wednesday. Penske Automotive Group has a 12-month low of $140.12 and a 12-month high of $189.51. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.19 and a beta of 0.90. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $158.47 and a 200-day moving average of $160.61.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. The firm had revenue of $7.86 billion during the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.66 EPS. On average, equities research analysts forecast that Penske Automotive Group will post 13.44 earnings per share for the current year.

Insider Buying and Selling

In other Penske Automotive Group news, Director Greg C. Smith sold 1,488 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $160.02, for a total transaction of $238,109.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAG. Diamant Asset Management Inc. raised its stake in Penske Automotive Group by 14,852.0% during the first quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock worth $132,237,000 after acquiring an additional 878,496 shares in the last quarter. Bank of Montreal Can boosted its position in Penske Automotive Group by 39,232.7% in the fourth quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock valued at $136,660,000 after buying an additional 861,157 shares in the last quarter. Victory Capital Management Inc. boosted its position in Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after buying an additional 456,611 shares in the last quarter. Norges Bank acquired a new stake in Penske Automotive Group in the fourth quarter valued at approximately $32,137,000. Finally, Dimensional Fund Advisors LP boosted its position in Penske Automotive Group by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock valued at $204,761,000 after buying an additional 156,308 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.