JPMorgan Chase & Co. Lowers Penske Automotive Group (NYSE:PAG) Price Target to $140.00

Penske Automotive Group (NYSE:PAG) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $165.00 to $140.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 2.63% from the stock’s current price.

PAG has been the subject of a number of other reports. Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark assumed coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock. Finally, StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Penske Automotive Group presently has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Penske Automotive Group Trading Down 4.1 %

Shares of PAG traded down $6.22 during mid-day trading on Thursday, reaching $143.78. The stock had a trading volume of 117,396 shares, compared to its average volume of 178,740. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The business’s fifty day moving average is $163.03 and its 200 day moving average is $159.62. Penske Automotive Group has a 52-week low of $141.20 and a 52-week high of $180.12. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 10.46 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. On average, sell-side analysts predict that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Barr sold 1,529 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after buying an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Penske Automotive Group during the 4th quarter worth about $40,000. True Wealth Design LLC increased its holdings in shares of Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after acquiring an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position in shares of Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after acquiring an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Penske Automotive Group during the fourth quarter worth approximately $76,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.