Penske Automotive Group (NYSE:PAG) Cut to Sell at ValuEngine

ValuEngine lowered shares of Penske Automotive Group (NYSE:PAG) from a hold rating to a sell rating in a research report sent to investors on Thursday, ValuEngine reports.

Other equities analysts also recently issued research reports about the company. Morgan Stanley downgraded GasLog Partners LP Unit from an overweight rating to an equal weight rating and reduced their price target for the stock from $23.00 to $18.00 in a research report on Tuesday, April 16th. Zacks Investment Research downgraded Hanger from a hold rating to a sell rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Penske Automotive Group currently has an average rating of Hold and an average price target of $54.00.

NYSE PAG opened at $45.89 on Thursday. The business’s 50 day simple moving average is $45.84. Penske Automotive Group has a 52-week low of $38.49 and a 52-week high of $53.84. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.80. The company has a market cap of $3.84 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.33.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, April 25th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. Penske Automotive Group had a return on equity of 17.38% and a net margin of 2.05%. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same period in the prior year, the business earned $1.26 EPS. Penske Automotive Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts anticipate that Penske Automotive Group will post 5.51 EPS for the current fiscal year.

In other Penske Automotive Group news, EVP Shane M. Spradlin sold 2,656 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.05, for a total transaction of $116,996.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Robert H. Kurnick, Jr. sold 8,579 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $46.05, for a total value of $395,062.95. Following the transaction, the president now directly owns 98,509 shares of the company’s stock, valued at approximately $4,536,339.45. The disclosure for this sale can be found here. Corporate insiders own 42.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Chip Partners Inc. boosted its holdings in shares of Penske Automotive Group by 0.5% in the 1st quarter. Blue Chip Partners Inc. now owns 44,826 shares of the company’s stock valued at $2,001,000 after buying an additional 225 shares during the last quarter. Occidental Asset Management LLC boosted its holdings in shares of Penske Automotive Group by 6.8% in the 4th quarter. Occidental Asset Management LLC now owns 7,345 shares of the company’s stock valued at $296,000 after buying an additional 467 shares during the last quarter. CIBC World Markets Inc. boosted its holdings in shares of Penske Automotive Group by 3.5% in the 1st quarter. CIBC World Markets Inc. now owns 16,481 shares of the company’s stock valued at $736,000 after buying an additional 562 shares during the last quarter. Sageworth Trust Co acquired a new stake in shares of Penske Automotive Group in the 1st quarter valued at approximately $27,000. Finally, Citigroup Inc. boosted its holdings in shares of Penske Automotive Group by 2.9% in the 4th quarter. Citigroup Inc. now owns 24,307 shares of the company’s stock valued at $980,000 after buying an additional 677 shares during the last quarter. 44.10% of the stock is owned by institutional investors.

Penske Automotive Group Company Profile

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.

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Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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