Guggenheim started coverage on shares of Penske Automotive Group (NYSE:PAG) in a research report released on Monday, The Fly reports. The brokerage issued a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Penske Automotive Group from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Tuesday, December 26th. Bank of America lifted their price target on shares of Penske Automotive Group from $58.00 to $60.00 and gave the company a buy rating in a report on Friday, February 9th. ValuEngine downgraded shares of Penske Automotive Group from a buy rating to a hold rating in a report on Monday, April 2nd. Finally, Morgan Stanley lifted their price target on shares of Penske Automotive Group from $50.00 to $54.00 and gave the company an overweight rating in a report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $56.14.

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NYSE:PAG opened at $44.15 on Monday. The stock has a market cap of $3,706.00, a PE ratio of 10.24, a price-to-earnings-growth ratio of 1.08 and a beta of 1.47. Penske Automotive Group has a 52 week low of $38.33 and a 52 week high of $54.83. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.86.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.27 billion. Penske Automotive Group had a net margin of 2.87% and a return on equity of 17.67%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. equities research analysts expect that Penske Automotive Group will post 5.06 EPS for the current year.

In related news, major shareholder & Co Ltd Mitsui sold 1,133,016 shares of Penske Automotive Group stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $44.13, for a total transaction of $49,999,996.08. Following the completion of the transaction, the insider now directly owns 10,658,163 shares of the company’s stock, valued at approximately $470,344,733.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 41.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its position in Penske Automotive Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after acquiring an additional 175 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $129,000. Jane Street Group LLC acquired a new stake in Penske Automotive Group in the 3rd quarter valued at about $201,000. Investors Research Corp acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $263,000. Finally, Eqis Capital Management Inc. acquired a new stake in Penske Automotive Group in the 4th quarter valued at about $269,000. Hedge funds and other institutional investors own 41.30% of the company’s stock.

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About Penske Automotive Group

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.

The Fly

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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