Penske Automotive Group (PAG)

• Market cap: $10.7B
• 1 day: -1.28%
• 5 days: 0.20%
• 1 month: 3.51%
• 3 months: -3.38%
• 6 months: 0.12%
• Year to date: -0.17%
• 1 year: 0.43%
• 5 years: 209.56%
• 10 years: 238.75%
• Sector: Consumer Discretionary
• Industry: Auto Dealers & Gasoline Stations

About: Penske Automotive Group operates in about 20 US states and overseas. It has over 150 US and Puerto Rico light-vehicle stores 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 46 truck dealerships selling mostly Freightliner and Western Star brands, and Penske owns nearly 20 used-vehicle stores, mostly in the US and UK under the CarShop (US) and Sytner Select (UK) brands. Penske is based in Bloomfield Hills, Michigan,

Employees: 28,500

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

17% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 41

2% more funds holding

Funds holding: 351 [Q2] → 358 (+7) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]

1% less capital invested

Capital invested by funds: $2.59B [Q2] → $2.56B (-$26.6M) [Q3]

2.21% less ownership

Funds ownership: 25.94% [Q2] → 23.72% (-2.21%) [Q3]

26% less repeat investments, than reductions

Existing positions increased: 101 | Existing positions reduced: 137

48% less call options, than puts

Call options by funds: $21.8M | Put options by funds: $42.1M

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $160 0% upside
• Avg. target: $167 4% upside
• High target: $180 12% upside

3 analyst ratings

• positive: 1 33%
• neutral: 1 33%
• negative: 1 33%

Morgan Stanley Adam Jonas 59% 1-year accuracy 35 / 59 met price target	12% upside $180	Overweight Upgraded	25 Sept 2024
Stephens & Co. Jeff Lick 43% 1-year accuracy 3 / 7 met price target	0% upside $161	Equal-Weight Initiated	12 Sept 2024
JP Morgan Rajat Gupta 85% 1-year accuracy 23 / 27 met price target	0% downside $160	Underweight Maintained	10 Sept 2024