Penske Automotive Group Inc. (PAG) Stock Price Up 4.3%
Penske Automotive Group Inc. (NYSE:PAG) rose 4.3% during mid-day trading on Monday . The stock traded as high as $33.00 and last traded at $32.98, with a volume of 405,752 shares traded. The stock had previously closed at $31.63.
PAG has been the subject of several recent research reports. Zacks Investment Research upgraded Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Monday, April 18th. Buckingham Research reiterated a “buy” rating on shares of Penske Automotive Group in a report on Thursday, May 5th. Sterne Agee CRT reiterated a “buy” rating on shares of Penske Automotive Group in a report on Monday, May 16th. Finally, TheStreet upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Penske Automotive Group presently has a consensus rating of “Buy” and a consensus price target of $55.33.
The firm has a market cap of $2.79 billion and a price-to-earnings ratio of 8.86. The firm has a 50-day moving average of $35.65 and a 200-day moving average of $36.22.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The business earned $4.80 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that Penske Automotive Group Inc. will post $3.84 EPS for the current year.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP boosted its position in Penske Automotive Group by 200.5% in the fourth quarter. Trexquant Investment LP now owns 66,700 shares of the company’s stock worth $2,824,000 after buying an additional 44,500 shares during the last quarter. Marshall Wace LLP purchased a new position in Penske Automotive Group during the fourth quarter worth approximately $2,976,000. Atlantic Trust Group LLC boosted its position in Penske Automotive Group by 100.0% in the fourth quarter. Atlantic Trust Group LLC now owns 32,000 shares of the company’s stock worth $1,355,000 after buying an additional 16,000 shares during the last quarter. Burney Co. boosted its position in Penske Automotive Group by 22.9% in the fourth quarter. Burney Co. now owns 43,263 shares of the company’s stock worth $1,821,000 after buying an additional 8,064 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Penske Automotive Group by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 355,376 shares of the company’s stock worth $15,047,000 after buying an additional 9,725 shares during the last quarter.
Penske Automotive Group, Inc is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles, diesel engines, gas engines, power systems and related parts, and services in Australia and New Zealand.
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