Penske Automotive Group (NYSE:PAG) Lowered to Hold at StockNews.com

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

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. Stephens raised their target price on shares of Penske Automotive Group from $140.00 to $155.00 in a report on Thursday, February 9th.

Penske Automotive Group Stock Down 0.7 %

Shares of PAG stock traded down $0.94 on Friday, hitting $141.59. The stock had a trading volume of 372,864 shares, compared to its average volume of 348,821. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 7.84 and a beta of 1.22. The stock’s 50 day moving average is $139.10 and its 200-day moving average is $131.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 1.01. Penske Automotive Group has a 52-week low of $94.49 and a 52-week high of $155.36.

Penske Automotive Group (NYSE:PAG – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The company reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.28. Penske Automotive Group had a net margin of 4.65% and a return on equity of 31.14%. The business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the company earned $4.76 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Penske Automotive Group will post 15.58 earnings per share for the current year.

Insider Activity at Penske Automotive Group

In related news, Director Kimberly J. Mcwaters sold 8,524 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $141.53, for a total transaction of $1,206,401.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John Barr sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $145.31, for a total value of $290,620.00. Following the sale, the director now owns 3,712 shares in the company, valued at $539,390.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kimberly J. Mcwaters sold 8,524 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $141.53, for a total transaction of $1,206,401.72. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Penske Automotive Group by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock valued at $11,272,000 after buying an additional 2,842 shares during the period. Raymond James & Associates increased its holdings in Penske Automotive Group by 9.7% in the 1st quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock valued at $3,039,000 after buying an additional 2,877 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Penske Automotive Group by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock valued at $28,864,000 after purchasing an additional 3,730 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Penske Automotive Group by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock valued at $784,000 after purchasing an additional 137 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Penske Automotive Group by 3.5% in the 1st quarter. Citigroup Inc. now owns 25,355 shares of the company’s stock valued at $2,376,000 after purchasing an additional 860 shares in the last quarter. Institutional investors and hedge funds own 32.66% of the company’s stock.

Penske Automotive Group Company Profile

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Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related parts and services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.