Penske Automotive Group (NYSE:PAG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, February 12th. The brokerage presently has a $56.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 18.67% from the company’s previous close.
According to Zacks, “Penske Automotive earnings and revenues beat the Zacks Consensus Estimate in fourth- quarter 2017. Compared with the year-ago figures, both bottom and the top line were higher. In January, the company completed the acquisition of The Car People and is expected to earn annualized revenues of roughly $300 million from its accretion. Earlier in 2017, it acquired two other used vehicle retailers, namely CarShop and CarSense. These buyouts will develop the company’s used car business segment and increase its customer base. Also, to enhance shareholders’ value, the company has been increasing cash dividends in each sequential quarter and frequently engages in share repurchase programs. Also, in the last three months, Penske Automotive’s shares have outperformed the industry it belongs to.”
Other equities research analysts have also issued research reports about the company. Gabelli boosted their price target on Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Bank of America lifted their price objective on Penske Automotive Group from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, ValuEngine upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.57.
Penske Automotive Group (NYSE:PAG) traded up $0.38 during trading on Monday, reaching $47.19. The company’s stock had a trading volume of 174,768 shares, compared to its average volume of 546,946. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.22 and a current ratio of 1.01. Penske Automotive Group has a one year low of $38.33 and a one year high of $54.83. The firm has a market capitalization of $4,061.12, a PE ratio of 10.89, a PEG ratio of 1.20 and a beta of 1.46.
Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 8th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. Penske Automotive Group had a return on equity of 17.67% and a net margin of 2.87%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.27 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. analysts anticipate that Penske Automotive Group will post 4.96 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Penske Automotive Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after purchasing an additional 175 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Penske Automotive Group by 5.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,390 shares of the company’s stock worth $676,000 after acquiring an additional 850 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Penske Automotive Group by 19.9% in the third quarter. Pacer Advisors Inc. now owns 7,017 shares of the company’s stock worth $334,000 after acquiring an additional 1,163 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Penske Automotive Group by 7.0% in the third quarter. Commonwealth Bank of Australia now owns 18,302 shares of the company’s stock worth $867,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Penske Automotive Group by 17.7% in the third quarter. Advisor Group Inc. now owns 8,607 shares of the company’s stock worth $410,000 after acquiring an additional 1,292 shares during the last quarter. Institutional investors and hedge funds own 43.15% of the company’s stock.
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Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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