Barclays Forecasts Strong Price Appreciation for Penske Automotive Group (NYSE:PAG) Stock

Penske Automotive Group (NYSE:PAG) had its price objective increased by stock analysts at Barclays from $210.00 to $212.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 0.63% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Weiss Ratings downgraded Penske Automotive Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Bank of America increased their price target on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. UBS Group reissued a “neutral” rating and issued a $212.00 price objective on shares of Penske Automotive Group in a research report on Friday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Penske Automotive Group from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Finally, Citigroup cut shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and upped their target price for the company from $199.00 to $210.00 in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Moderate Buy” and a consensus target price of $211.71.

Penske Automotive Group Stock Up 0.0%

PAG stock traded up $0.09 during midday trading on Tuesday, hitting $213.34. The company’s stock had a trading volume of 4,517 shares, compared to its average volume of 365,171. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.98 and a quick ratio of 0.21. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $227.00. The company’s fifty day moving average price is $210.50 and its 200 day moving average price is $183.00. The stock has a market capitalization of $14.01 billion, a P/E ratio of 15.56 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.01). Penske Automotive Group had a net margin of 2.77% and a return on equity of 14.82%. The company had revenue of $8.42 billion during the quarter, compared to the consensus estimate of $8.14 billion. During the same quarter in the previous year, the business earned $3.23 EPS. Penske Automotive Group’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Penske Automotive Group will post 13.39 EPS for the current year.

Institutional Investors Weigh In On Penske Automotive Group

Several hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Penske Automotive Group in the second quarter valued at $35,000. Core Capital Management & Research inc. acquired a new stake in shares of Penske Automotive Group during the 2nd quarter worth about $43,000. Parkside Financial Bank & Trust lifted its stake in shares of Penske Automotive Group by 57.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock worth $44,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Penske Automotive Group during the 3rd quarter worth about $44,000. Finally, Versant Capital Management Inc grew its stake in Penske Automotive Group by 179.0% in the 2nd quarter. Versant Capital Management Inc now owns 279 shares of the company’s stock valued at $50,000 after buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

About Penske Automotive Group

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.