Penske Automotive Group (NYSE:PAG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Penske Automotive Group (NYSE:PAG) had its price target hoisted by JPMorgan Chase & Co. from $160.00 to $165.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 1.86% from the company’s previous close.

PAG has been the subject of a number of other reports. Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $172.50.

Penske Automotive Group Price Performance

PAG stock opened at $168.12 on Wednesday. Penske Automotive Group has a 52-week low of $142.32 and a 52-week high of $180.12. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $11.23 billion, a PE ratio of 12.23 and a beta of 1.20. The stock’s 50 day moving average is $161.04 and its two-hundred day moving average is $160.51.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. Analysts predict that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Insider Activity at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 51.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in Penske Automotive Group by 36.9% during the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after acquiring an additional 10,663 shares during the period. Highland Capital Management LLC acquired a new position in Penske Automotive Group during the 4th quarter worth $240,000. Cerity Partners LLC boosted its position in Penske Automotive Group by 176.1% during the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after acquiring an additional 8,504 shares during the period. Blue Trust Inc. boosted its position in Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after acquiring an additional 269 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Penske Automotive Group by 188.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock worth $1,134,000 after acquiring an additional 4,559 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

About Penske Automotive Group

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.