Penske Automotive Group (NYSE:PAG) Stock Price Target Cut by JPMorgan Chase & Co.

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

Several other research analysts also recently commented on PAG. Benchmark downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. 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 note on Monday, August 3rd. Citigroup cut Penske Automotive Group from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $199.00 to $210.00 in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 11th. Finally, Bank of America upped their price target on shares of Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.29.

Penske Automotive Group Trading Down 0.7%

Shares of PAG traded down $1.50 during mid-day trading on Tuesday, reaching $199.09. 186,638 shares of the company’s stock traded hands, compared to its average volume of 334,283. The stock has a market cap of $13.07 billion, a P/E ratio of 14.66 and a beta of 0.92. The stock’s 50-day moving average is $215.06 and its two-hundred day moving average is $186.34. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $227.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.20. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%.The company had revenue of $8.51 billion during the quarter, compared to analysts’ expectations of $7.98 billion. During the same quarter in the previous year, the business earned $3.78 EPS. Penske Automotive Group’s revenue was up 11.1% compared to the same quarter last year. Research analysts forecast that Penske Automotive Group will post 13.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in Penske Automotive Group by 15.1% in the 1st quarter. Parallel Advisors LLC now owns 441 shares of the company’s stock valued at $66,000 after buying an additional 58 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Penske Automotive Group by 8.5% in the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock valued at $124,000 after acquiring an additional 65 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Penske Automotive Group by 57.1% in the second quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock valued at $44,000 after acquiring an additional 89 shares in the last quarter. Blue Chip Partners LLC increased its stake in shares of Penske Automotive Group by 0.9% during the first 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 increased its stake in shares of Penske Automotive Group by 26.5% during the second 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. Hedge funds and other institutional investors own 77.08% of the company’s stock.

About Penske Automotive Group

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.