Penske Automotive Group (NYSE:PAG) Price Target Raised to $215.00 at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its price objective upped by JPMorgan Chase & Co. from $170.00 to $215.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 1.56% from the company’s previous close.

Other research analysts have also issued research reports about the company. Weiss Ratings upgraded Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Bank of America upped their price target on Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a report on Friday, July 10th. Citigroup lowered shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $199.00 to $210.00 in a research note on Thursday, July 23rd. Finally, Morgan Stanley restated an “overweight” rating and set a $190.00 price target on shares of Penske Automotive Group in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.88.

Penske Automotive Group Stock Up 0.4%

NYSE PAG traded up $0.90 during mid-day trading on Tuesday, hitting $218.40. The company’s stock had a trading volume of 150,211 shares, compared to its average volume of 327,267. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.36. The company’s 50 day simple moving average is $187.70 and its 200 day simple moving average is $169.26. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $227.00. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.92 and a beta of 0.87.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.20. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $3.78 earnings per share. Analysts anticipate that Penske Automotive Group will post 13.48 earnings per share for the current year.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director Greg C. Smith sold 1,488 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total value of $257,700.00. Following the transaction, the chief financial officer directly owned 17,596 shares in the company, valued at $3,022,992.80. This represents a 7.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 52.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in shares of Penske Automotive Group by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after buying an additional 84,045 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Penske Automotive Group by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock valued at $9,918,000 after buying an additional 3,100 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Penske Automotive Group during the 1st quarter valued at $42,000. EverSource Wealth Advisors LLC raised its holdings in Penske Automotive Group by 506.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after acquiring an additional 735 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of Penske Automotive Group by 47.0% during the second quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock worth $534,000 after acquiring an additional 994 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

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.