JPMorgan Chase & Co. Issues Pessimistic Forecast for Penske Automotive Group (NYSE:PAG) Stock Price

Penske Automotive Group (NYSE:PAG) had its price target lowered by research analysts at JPMorgan Chase & Co. from $215.00 to $210.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.48% from the company’s current price.

Other analysts have also recently issued research reports about the stock. UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a research note on Friday, July 10th. Stephens lifted their price target on shares of Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Bank of America boosted their price target on Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Barclays dropped their price objective on Penske Automotive Group from $225.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Weiss Ratings raised Penske Automotive Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 11th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and an average target price of $208.29.

Penske Automotive Group Price Performance

PAG stock traded down $1.50 on Tuesday, reaching $199.09. 186,638 shares of the company’s stock were exchanged, compared to its average volume of 334,283. The stock has a fifty day moving average of $215.06 and a 200-day moving average of $186.34. The firm has a market cap of $13.07 billion, a PE ratio of 14.66 and a beta of 0.92. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $227.00.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 29th. The company reported $3.62 EPS for the quarter, topping the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same period in the previous year, the firm earned $3.78 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Penske Automotive Group will post 13.66 EPS for the current fiscal year.

Institutional Trading of Penske Automotive Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in shares of Penske Automotive Group by 15.1% during the first quarter. Parallel Advisors LLC now owns 441 shares of the company’s stock worth $66,000 after buying an additional 58 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Penske Automotive Group by 8.5% during the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock valued at $124,000 after buying an additional 65 shares during the period. Parkside Financial Bank & Trust boosted its position in Penske Automotive Group by 57.1% during the second quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock worth $44,000 after acquiring an additional 89 shares during the last quarter. Blue Chip Partners LLC grew its stake in Penske Automotive Group by 0.9% in the 1st quarter. Blue Chip Partners LLC now owns 10,412 shares of the company’s stock worth $1,557,000 after acquiring an additional 90 shares during the period. Finally, GAMMA Investing LLC grew its stake in Penske Automotive Group by 26.5% in the 2nd quarter. GAMMA Investing LLC now owns 429 shares of the company’s stock worth $77,000 after acquiring an additional 90 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. The company sells new and used cars, trucks and other vehicles, representing a broad range of manufacturers and brands.

Its retail automotive operations also provide vehicle financing and insurance products, maintenance and repair services, replacement parts, collision repair, and other related services. Through its commercial vehicle operations, Penske Automotive Group serves businesses and fleet customers with heavy- and medium-duty trucks, parts and service support, and related transportation solutions.

The company serves customers primarily in the United States, the United Kingdom, Germany, Italy and Japan.