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

Penske Automotive Group (NYSE:PAG) had its target price upped by stock analysts at JPMorgan Chase & Co. from $165.00 to $170.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 2.18% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday. Stephens upped their price objective on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Barclays lowered their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Finally, Citigroup upped their price objective on shares of Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.86.

Penske Automotive Group Stock Performance

NYSE PAG opened at $173.80 on Thursday. The company has a 50-day simple moving average of $154.84 and a two-hundred day simple moving average of $160.29. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. Penske Automotive Group has a 12-month low of $140.12 and a 12-month high of $189.51. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.23 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.14. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The business had revenue of $7.86 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same period in the prior year, the business posted $3.66 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Penske Automotive Group will post 13.38 EPS for the current year.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors have recently bought and sold shares of PAG. Goldman Sachs Group Inc. raised its stake in Penske Automotive Group by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $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 raised its stake in Penske Automotive Group by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock worth $9,918,000 after buying an additional 3,100 shares in the last quarter. Acadian Asset Management LLC bought a new position in Penske Automotive Group in the first quarter worth about $42,000. EverSource Wealth Advisors LLC raised its stake in Penske Automotive Group by 506.9% in the second quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock worth $151,000 after buying an additional 735 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in Penske Automotive Group by 47.0% in the second quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock worth $534,000 after buying an additional 994 shares in the last quarter. 77.08% of the stock is owned by 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.