Penske Automotive Group (NYSE:PAG) Given New $93.00 Price Target at Morgan Stanley

Penske Automotive Group (NYSE:PAG – Get Rating) had its price objective decreased by research analysts at Morgan Stanley from $95.00 to $93.00 in a research note issued on Thursday, The Fly reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 11.85% from the company’s previous close.

PAG has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Penske Automotive Group from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, April 7th. StockNews.com raised shares of Penske Automotive Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.40.

Penske Automotive Group Stock Performance

NYSE PAG opened at $105.50 on Thursday. The company’s 50 day moving average is $110.96 and its 200-day moving average is $104.47. Penske Automotive Group has a 12-month low of $74.87 and a 12-month high of $123.60. The company has a quick ratio of 0.26, a current ratio of 0.97 and a debt-to-equity ratio of 0.33. The firm has a market cap of $8.01 billion, a P/E ratio of 6.10 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.94 by $0.82. Penske Automotive Group had a net margin of 5.13% and a return on equity of 35.33%. The company had revenue of $6.98 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts predict that Penske Automotive Group will post 17.38 earnings per share for the current year.

Hedge Funds Weigh In On Penske Automotive Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors LLC purchased a new stake in shares of Penske Automotive Group in the 1st quarter valued at $26,000. First Quadrant LLC CA purchased a new stake in shares of Penske Automotive Group in the 1st quarter valued at $33,000. Quadrant Capital Group LLC boosted its stake in shares of Penske Automotive Group by 32.8% in the 1st quarter. Quadrant Capital Group LLC now owns 413 shares of the company’s stock valued at $39,000 after purchasing an additional 102 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Penske Automotive Group in the 4th quarter valued at $43,000. Finally, GHP Investment Advisors Inc. purchased a new stake in shares of Penske Automotive Group in the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 50.13% of the company’s stock.

About Penske Automotive Group

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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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