Deroy & Devereaux Private Investment Counsel Inc. cut its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 307,183 shares of the company’s stock after selling 20,695 shares during the quarter. Penske Automotive Group makes up about 1.6% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 27th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Penske Automotive Group were worth $18,244,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Penske Automotive Group by 8.6% in the first quarter. FMR LLC now owns 81,243 shares of the company’s stock valued at $3,628,000 after acquiring an additional 6,436 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Penske Automotive Group by 14.2% in the second quarter. Advisor Group Holdings Inc. now owns 8,090 shares of the company’s stock valued at $312,000 after buying an additional 1,006 shares during the last quarter. Stifel Financial Corp boosted its stake in Penske Automotive Group by 2.9% in the 2nd quarter. Stifel Financial Corp now owns 11,792 shares of the company’s stock valued at $456,000 after purchasing an additional 329 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Penske Automotive Group during the 2nd quarter worth approximately $79,000. Finally, Sei Investments Co. increased its stake in shares of Penske Automotive Group by 7.9% in the second quarter. Sei Investments Co. now owns 39,973 shares of the company’s stock valued at $1,548,000 after buying an additional 2,923 shares during the period. 38.14% of the stock is currently owned by institutional investors.
PAG has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Penske Automotive Group from a “strong-buy” rating to a “hold” rating and set a $59.00 price target on the stock. in a report on Wednesday, December 23rd. Morgan Stanley boosted their target price on Penske Automotive Group from $49.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, December 7th. Seaport Global Securities began coverage on shares of Penske Automotive Group in a report on Monday, October 19th. They issued a “buy” rating and a $60.00 price target on the stock. Bank of America lifted their price target on shares of Penske Automotive Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 17th. Finally, Truist increased their price objective on Penske Automotive Group from $65.00 to $75.00 in a report on Friday, January 15th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Penske Automotive Group presently has a consensus rating of “Buy” and an average target price of $60.73.
PAG traded down $1.50 during trading on Monday, reaching $63.82. The company had a trading volume of 3,599 shares, compared to its average volume of 377,964. The company has a market cap of $5.13 billion, a P/E ratio of 11.73, a PEG ratio of 1.34 and a beta of 1.61. Penske Automotive Group, Inc. has a 12 month low of $19.99 and a 12 month high of $66.84. The business’s fifty day moving average price is $59.90 and its 200 day moving average price is $52.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.28.
Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $2.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $1.28. Penske Automotive Group had a net margin of 2.17% and a return on equity of 15.09%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts predict that Penske Automotive Group, Inc. will post 6.2 EPS for the current fiscal year.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.
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