Penske Automotive Group Inc. (PAG) Stock Price Up 2.2%
Penske Automotive Group Inc. (NYSE:PAG) rose 2.2% during mid-day trading on Thursday . The company traded as high as $36.33 and last traded at $36.12, with a volume of 464,569 shares changing hands. The stock had previously closed at $35.34.
PAG has been the subject of a number of analyst reports. Zacks Investment Research lowered Penske Automotive Group from a “hold” rating to a “strong sell” rating in a research report on Monday. Buckingham Research reiterated a “buy” rating on shares of Penske Automotive Group in a research report on Thursday, May 5th. Sterne Agee CRT reiterated a “buy” rating on shares of Penske Automotive Group in a research report on Monday, May 16th. Finally, TheStreet upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Penske Automotive Group has a consensus rating of “Hold” and an average price target of $48.00.
The firm has a market capitalization of $3.09 billion and a P/E ratio of 9.80. The firm has a 50-day moving average of $34.76 and a 200 day moving average of $35.79.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, April 26th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The firm earned $4.80 billion during the quarter, compared to analyst estimates of $4.79 billion. Penske Automotive Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. Equities research analysts anticipate that Penske Automotive Group Inc. will post $3.84 EPS for the current fiscal year.
Other large investors recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in Penske Automotive Group during the fourth quarter worth about $2,976,000. Foresters Investment Management Company Inc. increased its stake in Penske Automotive Group by 8.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 674,000 shares of the company’s stock worth $28,537,000 after buying an additional 51,500 shares during the last quarter. Trexquant Investment LP increased its stake 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. Morgan Stanley increased its stake in Penske Automotive Group by 7.9% in the fourth quarter. Morgan Stanley now owns 359,130 shares of the company’s stock worth $15,205,000 after buying an additional 26,331 shares during the last quarter. Finally, Atlantic Trust Group LLC increased its stake 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.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.