Penske Automotive Group (NYSE:PAG) Lowered to “Hold” Rating by StockNews.com

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

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

Penske Automotive Group Stock Down 1.0 %

Shares of PAG traded down $1.37 during midday trading on Monday, hitting $140.43. The company had a trading volume of 445,821 shares, compared to its average volume of 192,129. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 10.21 and a beta of 1.03. The company’s 50 day moving average price is $159.99 and its 200 day moving average price is $158.98. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 52 week low of $134.51 and a 52 week high of $180.12.

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 the consensus estimate of $3.37 by $0.17. The firm 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 predict that Penske Automotive Group will post 13.86 EPS for the current year.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction dated 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 directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealthspire Advisors LLC lifted its holdings in shares of Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock valued at $417,000 after buying an additional 63 shares during the period. Blue Chip Partners LLC lifted its holdings in Penske Automotive Group by 0.7% in the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock valued at $1,617,000 after acquiring an additional 73 shares during the last quarter. GAMMA Investing LLC boosted 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 valued at $40,000 after purchasing an additional 81 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Penske Automotive Group by 0.5% during the 3rd quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock valued at $2,704,000 after purchasing an additional 82 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Penske Automotive Group by 5.1% in the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after purchasing an additional 88 shares during the last quarter. 77.08% of the stock is owned by 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.