Penske Automotive Group (NYSE:PAG) Shares Up 14.4%

Penske Automotive Group, Inc. (NYSE:PAG)’s stock price shot up 14.4% during mid-day trading on Monday . The stock traded as high as $26.86 and last traded at $26.35, 481,307 shares changed hands during trading. An increase of 25% from the average session volume of 385,583 shares. The stock had previously closed at $23.03.

Several research firms recently issued reports on PAG. Stephens cut their target price on Penske Automotive Group from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday, January 9th. They set a “hold” rating for the company. Northcoast Research cut Penske Automotive Group from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Cfra raised their price target on Penske Automotive Group from $50.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, February 5th. Finally, ValuEngine cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $47.20.

The stock has a market cap of $1.86 billion, a PE ratio of 4.99, a PEG ratio of 1.38 and a beta of 1.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.20 and a current ratio of 0.98. The stock has a fifty day moving average price of $37.14 and a 200 day moving average price of $46.09.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, February 5th. The company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.05. The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Penske Automotive Group had a return on equity of 16.37% and a net margin of 1.89%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 4.86 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in Penske Automotive Group by 2.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,644 shares of the company’s stock valued at $456,000 after purchasing an additional 225 shares in the last quarter. Blue Chip Partners Inc. raised its position in Penske Automotive Group by 0.6% during the 4th quarter. Blue Chip Partners Inc. now owns 47,924 shares of the company’s stock valued at $2,407,000 after purchasing an additional 286 shares in the last quarter. Wedbush Securities Inc. raised its position in Penske Automotive Group by 2.4% during the 4th quarter. Wedbush Securities Inc. now owns 18,641 shares of the company’s stock valued at $936,000 after purchasing an additional 435 shares in the last quarter. Amalgamated Bank raised its position in Penske Automotive Group by 8.2% during the 4th quarter. Amalgamated Bank now owns 7,493 shares of the company’s stock valued at $376,000 after purchasing an additional 568 shares in the last quarter. Finally, Raymond James & Associates raised its position in Penske Automotive Group by 9.2% during the 4th quarter. Raymond James & Associates now owns 7,194 shares of the company’s stock valued at $361,000 after purchasing an additional 604 shares in the last quarter. 40.47% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group (NYSE:PAG)

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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