Equities research analysts at Guggenheim initiated coverage on shares of Penske Automotive Group (NYSE:PAG) in a research note issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 12.28% from the company’s current price.
PAG has been the topic of a number of other research reports. Zacks Investment Research downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Bank of America increased their target price on Penske Automotive Group from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 9th. ValuEngine downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Morgan Stanley increased their target price on Penske Automotive Group from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Penske Automotive Group presently has an average rating of “Hold” and an average price target of $55.38.
NYSE:PAG opened at $44.53 on Monday. 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 52 week low of $38.33 and a 52 week high of $54.83. The company has a market cap of $3,706.00, a price-to-earnings ratio of 10.33, a PEG ratio of 1.08 and a beta of 1.47.
Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, February 8th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter last year, the business posted $0.91 EPS. Penske Automotive Group’s quarterly revenue was up 10.4% compared to the same quarter last year. research analysts forecast that Penske Automotive Group will post 5.06 earnings per share for the current fiscal year.
In related news, major shareholder & Co Ltd Mitsui sold 1,133,016 shares of the firm’s stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $44.13, for a total value of $49,999,996.08. Following the sale, the insider now owns 10,658,163 shares of the company’s stock, valued at approximately $470,344,733.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 41.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PAG. The Manufacturers Life Insurance Company lifted its holdings 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 worth $110,000 after purchasing an additional 175 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Penske Automotive Group by 29.7% in the 3rd quarter. Legal & General Group Plc now owns 61,538 shares of the company’s stock worth $2,927,000 after purchasing an additional 14,109 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Penske Automotive Group by 24.1% in the 3rd quarter. Wells Fargo & Company MN now owns 55,610 shares of the company’s stock worth $2,645,000 after purchasing an additional 10,787 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Penske Automotive Group by 8.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 321,820 shares of the company’s stock worth $15,309,000 after purchasing an additional 24,102 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Penske Automotive Group in the 3rd quarter worth approximately $201,000. 41.30% of the stock is currently owned by institutional investors and hedge funds.
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About Penske Automotive Group
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It 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 primarily in Australia and New Zealand.
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