Penske Automotive Group (NYSE:PAG) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Guggenheim lowered shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a research report on Friday, September 21st. SunTrust Banks began coverage on shares of Penske Automotive Group in a research report on Friday, August 24th. They set a “buy” rating and a $60.00 price target for the company. Finally, Morgan Stanley upped their price objective on shares of Penske Automotive Group from $56.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Penske Automotive Group has an average rating of “Hold” and a consensus target price of $59.50.
PAG traded down $0.89 during trading on Wednesday, hitting $44.08. 551,600 shares of the company traded hands, compared to its average volume of 421,093. The firm has a market cap of $4.02 billion, a P/E ratio of 10.23, a PEG ratio of 1.30 and a beta of 1.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.22 and a current ratio of 1.01. Penske Automotive Group has a one year low of $41.74 and a one year high of $54.83.
Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, July 26th. The company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.14. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.82 billion. Penske Automotive Group had a net margin of 2.95% and a return on equity of 17.68%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. Equities research analysts predict that Penske Automotive Group will post 5.37 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mount Yale Investment Advisors LLC purchased a new stake in Penske Automotive Group during the first quarter valued at about $141,000. State of Alaska Department of Revenue lifted its holdings in Penske Automotive Group by 39.8% during the second quarter. State of Alaska Department of Revenue now owns 3,913 shares of the company’s stock valued at $183,000 after purchasing an additional 1,113 shares during the last quarter. Bridgewater Associates LP purchased a new stake in Penske Automotive Group during the second quarter valued at about $205,000. Cadence Capital Management LLC purchased a new stake in Penske Automotive Group during the second quarter valued at about $207,000. Finally, KCM Investment Advisors LLC purchased a new stake in Penske Automotive Group during the second quarter valued at about $209,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.
Penske Automotive Group Company Profile
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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