Penske Automotive Group (NYSE:PAG) Stock Price Expected to Rise, Citigroup Analyst Says
by Teresa Graham · The Cerbat GemPenske Automotive Group (NYSE:PAG – Get Free Report) had its target price boosted by investment analysts at Citigroup from $193.00 to $199.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 16.06% from the company’s previous close.
Several other brokerages have also commented on PAG. JPMorgan Chase & Co. decreased their price target on Penske Automotive Group from $170.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Stephens boosted their price target on Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays decreased their price target on 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. Finally, Weiss Ratings lowered Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Six 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, Penske Automotive Group has an average rating of “Moderate Buy” and a consensus target price of $184.86.
Check Out Our Latest Report on Penske Automotive Group
Penske Automotive Group Price Performance
Shares of PAG stock opened at $171.46 on Wednesday. The stock’s fifty day simple moving average is $154.84 and its 200 day simple moving average is $160.29. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 2.21 and a beta of 0.90. Penske Automotive Group has a one year low of $140.12 and a one year high of $189.51.
Penske Automotive Group (NYSE:PAG – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.91 by $0.14. The business had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.Penske Automotive Group’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.66 EPS. On average, analysts expect that Penske Automotive Group will post 13.38 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Penske Automotive Group
A number of institutional investors and hedge funds have recently bought and sold shares of PAG. Diamant Asset Management Inc. boosted its stake in Penske Automotive Group by 14,852.0% in the first quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock worth $132,237,000 after purchasing an additional 878,496 shares in the last quarter. Bank of Montreal Can boosted its stake in Penske Automotive Group by 39,232.7% in the fourth quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock worth $136,660,000 after purchasing an additional 861,157 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock worth $241,958,000 after purchasing an additional 456,611 shares in the last quarter. Norges Bank acquired a new position in Penske Automotive Group in the fourth quarter worth $32,137,000. Finally, Dimensional Fund Advisors LP boosted its stake in Penske Automotive Group by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock worth $204,761,000 after purchasing an additional 156,308 shares in the last quarter. Institutional investors and hedge funds 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.