UBS Group Upgrades Penske Automotive Group (NYSE:PAG) to “Hold”

Penske Automotive Group (NYSE:PAG) was upgraded by UBS Group to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on PAG. Weiss Ratings lowered shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Morgan Stanley restated an “overweight” rating and set a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Citigroup raised their target price on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Barclays decreased their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.63.

Penske Automotive Group Stock Down 0.4%

PAG stock opened at $168.39 on Wednesday. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $189.51. The company’s 50 day simple moving average is $158.47 and its 200-day simple moving average is $160.61. The firm has a market capitalization of $11.07 billion, a PE ratio of 12.57, a P/E/G ratio of 2.19 and a beta of 0.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same quarter last year, the business earned $3.66 earnings per share. Penske Automotive Group’s revenue was down 1.1% compared to the same quarter last year. Equities analysts expect that Penske Automotive Group will post 13.44 earnings per share for the current fiscal year.

Insider Activity at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,488 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock worth $3,167,000 after acquiring an additional 65 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Penske Automotive Group by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after acquiring an additional 65 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Penske Automotive Group by 5.4% in the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after acquiring an additional 65 shares in the last quarter. Bessemer Group Inc. grew its position in Penske Automotive Group by 8.5% in the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock worth $124,000 after acquiring an additional 65 shares in the last quarter. Finally, Rothschild Investment LLC grew its position in Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after acquiring an additional 66 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.