Penske Automotive Group (NYSE:PAG) Given New $165.00 Price Target at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $160.00 to $165.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.10% from the stock’s current price.

Several other research analysts also recently commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday. Benchmark started 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 issued a buy rating to the company. Based on data from MarketBeat.com, Penske Automotive Group has a consensus rating of “Hold” and an average price target of $172.50.

Penske Automotive Group Stock Performance

Shares of PAG traded down $1.22 during mid-day trading on Wednesday, hitting $170.29. The stock had a trading volume of 25,939 shares, compared to its average volume of 181,549. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $180.12. 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 business has a fifty day moving average price of $160.69 and a 200-day moving average price of $160.34. The firm has a market cap of $11.37 billion, a P/E ratio of 12.38 and a beta of 1.20.

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

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 51.70% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of PAG. GAMMA Investing LLC increased its holdings in shares of Penske Automotive Group by 44.8% in 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. bought a new position in Penske Automotive Group in the fourth quarter valued at $40,000. True Wealth Design LLC raised its position in Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. raised its position in Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Penske Automotive Group during the fourth quarter worth about $76,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

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.