JPMorgan Cuts Penske Automotive Group Price Target to $210

JPMorgan Chase & Co. has adjusted its price target for Penske Automotive Group (NYSE: PAG) from $215.00 to $210.00, maintaining a "neutral" rating on the stock. This adjustment, reported on Tuesday, suggests a potential upside of 5.48% from the company's current price of $199.09.

Other analysts have also weighed in on Penske Automotive Group recently. Benchmark downgraded the stock from "buy" to "hold" on July 22nd, while Stephens raised its price target to $210.00 with an "equal weight" rating on August 3rd. Citigroup shifted its rating to "neutral" but increased its price objective to $210.00 on July 23rd. Weiss Ratings upgraded the stock to a "buy (b)" rating on September 11th, and Bank of America boosted its price target to $238.00 with a "buy" rating on July 9th.

The stock has a market cap of $13.07 billion, a P/E ratio of 14.66, and a beta of 0.92. It has a 50-day moving average of $215.06 and a 200-day moving average of $186.34. Penske Automotive Group reported quarterly earnings of $3.62 per share on July 29th, exceeding estimates by $0.20. The company's revenue for the quarter was $8.51 billion, up 11.1% year-over-year.

Institutional investors have been active in trading Penske Automotive Group shares. Parallel Advisors LLC increased its stake by 15.1% in the first quarter, while Bessemer Group Inc. boosted its holdings by 8.5%. Other institutional investors, including Parkside Financial Bank & Trust and Blue Chip Partners LLC, also increased their stakes in the company.