Penske Automotive Group (NYSE:PAG) Given New $165.00 Price Target at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $170.00 to $165.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 1.16% from the company’s previous close.

PAG has been the topic of a number of other reports. Barclays reduced their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Finally, Citigroup reduced their price objective on Penske Automotive Group from $200.00 to $193.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.43.

Penske Automotive Group Stock Performance

Shares of NYSE PAG traded up $7.08 during midday trading on Friday, reaching $163.10. The company had a trading volume of 74,789 shares, compared to its average volume of 285,671. The stock has a market cap of $10.72 billion, a P/E ratio of 12.11, a P/E/G ratio of 2.03 and a beta of 0.87. Penske Automotive Group has a 1 year low of $140.12 and a 1 year high of $189.51. The business’s 50-day simple moving average is $155.68 and its 200 day simple moving average is $161.02. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.54 EPS. On average, analysts forecast that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Institutional Trading of Penske Automotive Group

A number of hedge funds have recently made changes to their positions in PAG. PNC Financial Services Group Inc. increased its holdings in shares of Penske Automotive Group by 2.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock valued at $561,000 after purchasing an additional 65 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of Penske Automotive Group by 5.4% in the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock valued at $219,000 after acquiring an additional 65 shares during the period. California State Teachers Retirement System lifted its stake in shares of Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after buying an additional 65 shares during the period. Rothschild Investment LLC lifted its stake in shares of Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after buying an additional 66 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Penske Automotive Group by 11.0% in the third quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock worth $116,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.