Penske Automotive Group, Inc. (PAG) Receives $56.14 Consensus Target Price from Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $56.14.

A number of brokerages recently weighed in on PAG. KeyCorp reaffirmed a “hold” rating on shares of Penske Automotive Group in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research report on Friday, October 20th. Berenberg Bank began coverage on shares of Penske Automotive Group in a research report on Wednesday, October 4th. They set a “hold” rating and a $52.00 price target for the company. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Gabelli upped their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th.

Penske Automotive Group (PAG) traded down $0.20 during mid-day trading on Friday, hitting $52.61. The stock had a trading volume of 180,974 shares, compared to its average volume of 472,518. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.03. Penske Automotive Group has a 1-year low of $38.33 and a 1-year high of $55.25. The firm has a market cap of $4,574.87, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.55 and a beta of 1.46.

Penske Automotive Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

In other Penske Automotive Group news, EVP Shane M. Spradlin sold 3,188 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $47.41, for a total value of $151,143.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John D. Jr. Carlson sold 7,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $46.20, for a total transaction of $323,400.00. Following the completion of the transaction, the chief financial officer now directly owns 24,844 shares of the company’s stock, valued at $1,147,792.80. The disclosure for this sale can be found here. 40.70% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted 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 buying an additional 175 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Penske Automotive Group in the 4th quarter valued at about $129,000. Commonwealth Equity Services Inc purchased a new position in Penske Automotive Group in the 3rd quarter valued at about $199,000. Jane Street Group LLC purchased a new position in Penske Automotive Group in the 3rd quarter valued at about $201,000. Finally, Stephens Inc. AR purchased a new position in Penske Automotive Group in the 3rd quarter valued at about $230,000. 41.41% of the stock is owned by institutional investors.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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