Penske Automotive Group, Inc. (NYSE:PAG – Get Free Report) CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the transaction, the chief financial officer directly owned 17,596 shares of the company’s stock, valued at approximately $3,022,992.80. This trade represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Penske Automotive Group Stock Performance
NYSE PAG opened at $170.96 on Friday. Penske Automotive Group, Inc. has a fifty-two week low of $140.12 and a fifty-two week high of $189.51. The stock has a market cap of $11.24 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.87. The business has a fifty day moving average of $161.60 and a 200-day moving average of $161.09. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39.
Penske Automotive Group (NYSE:PAG – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the previous year, the firm posted $3.66 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, analysts predict that Penske Automotive Group, Inc. will post 13.46 earnings per share for the current fiscal year.
Penske Automotive Group Increases Dividend
Institutional Investors Weigh In On Penske Automotive Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in shares of Penske Automotive Group by 15.1% in the first quarter. Parallel Advisors LLC now owns 441 shares of the company’s stock valued at $66,000 after purchasing an additional 58 shares during the period. Bank of America Corp DE grew its position in Penske Automotive Group by 4.5% during the first quarter. Bank of America Corp DE now owns 463,784 shares of the company’s stock valued at $69,345,000 after acquiring an additional 19,850 shares during the period. California State Teachers Retirement System grew its position in Penske Automotive Group by 30.0% during the first quarter. California State Teachers Retirement System now owns 24,384 shares of the company’s stock valued at $3,646,000 after acquiring an additional 5,627 shares during the period. Empowered Funds LLC grew its position in Penske Automotive Group by 25.4% during the first quarter. Empowered Funds LLC now owns 2,115 shares of the company’s stock valued at $316,000 after acquiring an additional 429 shares during the period. Finally, SummitTX Capital L.P. grew its position in Penske Automotive Group by 177.5% during the first quarter. SummitTX Capital L.P. now owns 11,164 shares of the company’s stock valued at $1,669,000 after acquiring an additional 7,141 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Citigroup boosted their price target on Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Stephens lifted their price objective on Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Barclays lowered their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.63.
View Our Latest Research Report on PAG
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.
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