Penske Automotive Group (NYSE:PAG) Price Target Raised to $199.00

Penske Automotive Group (NYSE:PAG) had its price target increased by research analysts at Citigroup from $193.00 to $199.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 16.96% from the company’s previous close.

PAG has been the subject of several other reports. Barclays lowered their price target on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price target on Penske Automotive Group from $170.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Finally, Stephens increased their price target on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $184.14.

Penske Automotive Group Trading Up 0.8%

NYSE:PAG traded up $1.33 during mid-day trading on Wednesday, hitting $170.14. The company had a trading volume of 132,386 shares, compared to its average volume of 294,487. Penske Automotive Group has a fifty-two week low of $140.12 and a fifty-two week high of $189.51. The business’s fifty day moving average is $154.51 and its two-hundred day moving average is $160.27. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. The firm has a market cap of $11.19 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.19 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the prior year, the firm posted $3.66 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that Penske Automotive Group will post 13.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Penske Automotive Group by 2.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after buying an additional 65 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Penske Automotive Group by 5.4% during the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after buying an additional 65 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Penske Automotive Group by 8.5% during the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock worth $124,000 after buying an additional 65 shares in the last quarter. California State Teachers Retirement System grew its stake in 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 purchasing an additional 65 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in 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 purchasing an additional 66 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

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.