Penske Automotive Group
About: Penske Automotive Group operates in about 20 US states and overseas. It has over 150 US light-vehicle stores including in Puerto Rico as well as 210 franchised dealerships overseas, primarily in the United Kingdom but also in Australia, Continental Europe, and Japan. The company is the third-largest US-based dealership in terms of light-vehicle revenue and sells more than 40 brands, with over 90% of retail automotive revenue coming from luxury and import names. Other segments are service and finance and insurance. The firm's Premier Truck Group owns 48 truck dealerships selling mostly Freightliner and Western Star brands, and Penske owns over 10 used-vehicle stores in the US and UK under the CarShop (US) and Sytner Select (UK) brands. The company is based in Bloomfield Hills, Michigan,
Employees: 28,500
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
27% more call options, than puts
Call options by funds: $22.6M | Put options by funds: $17.8M
6% less repeat investments, than reductions
Existing positions increased: 114 | Existing positions reduced: 121
1.19% less ownership
Funds ownership: 26.58% [Q1] → 25.4% (-1.19%) [Q2]
2% less funds holding
Funds holding: 357 [Q1] → 351 (-6) [Q2]
12% less capital invested
Capital invested by funds: $2.88B [Q1] → $2.53B (-$353M) [Q2]
12% less first-time investments, than exits
New positions opened: 43 | Existing positions closed: 49
75% less funds holding in top 10
Funds holding in top 10: 4 [Q1] → 1 (-3) [Q2]
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
5 analyst ratings
Morgan Stanley Adam Jonas 46% 1-year accuracy 30 / 65 met price target | 14%upside $180 | Overweight Upgraded | 25 Sept 2024 |
Stephens & Co. Jeff Lick 25% 1-year accuracy 1 / 4 met price target | 2%upside $161 | Equal-Weight Initiated | 12 Sept 2024 |
JP Morgan Rajat Gupta 67% 1-year accuracy 18 / 27 met price target | 1%upside $160 | Underweight Maintained | 10 Sept 2024 |
JP Morgan Rajat Gupta 67% 1-year accuracy 18 / 27 met price target | 12%downside $140 | Underweight Maintained | 6 Aug 2024 |
B of A Securities John Murphy 53% 1-year accuracy 20 / 38 met price target | 14%upside $180 | Buy Maintained | 22 Jul 2024 |
Financial journalist opinion
Based on 3 articles about PAG published over the past 30 days