Penske Automotive Group (NYSE:PAG) Downgraded to Hold Rating by StockNews.com

Penske Automotive Group (NYSE:PAG) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other research firms have also recently weighed in on PAG. JPMorgan Chase & Co. dropped their price target on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Stephens reissued an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, Benchmark assumed coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Penske Automotive Group has a consensus rating of “Hold” and an average price target of $166.25.

Penske Automotive Group Price Performance

Shares of PAG opened at $139.64 on Monday. The firm has a market capitalization of $9.32 billion, a PE ratio of 10.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The company’s 50-day moving average is $158.97 and its 200-day moving average is $158.71. Penske Automotive Group has a fifty-two week low of $134.05 and a fifty-two week high of $180.12.

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

Insider Buying and Selling

In related news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Penske Automotive Group

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after buying an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Penske Automotive Group during the 4th quarter worth approximately $40,000. Headlands Technologies LLC bought a new stake in Penske Automotive Group during the 4th quarter worth $76,000. TD Waterhouse Canada Inc. boosted its stake in shares of Penske Automotive Group by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company’s stock valued at $81,000 after purchasing an additional 158 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Penske Automotive Group during the third quarter worth about $94,000. 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.