Penske Automotive Group (PAG) is Downgraded by KeyBanc Capital Mkts to Sector Weight

Penske Automotive Group (PAG) was Downgraded by KeyBanc Capital Mkts to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. KeyBanc Capital Mkts advised their investors in a research report released on Jun 28, 2016.

On the company’s financial health, Penske Automotive Group reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.88. The company had revenue of $4824.60 million for the quarter, compared to analysts expectations of $4804.50 million. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS.

Penske Automotive Group closed down -1.47 points or -4.43% at $31.72 with 10,61,738 shares getting traded on Monday. Post opening the session at $32.53, the shares hit an intraday low of $31.37 and an intraday high of $32.53 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 2, 2015, Roger S Penske (Chairman & CEO) sold 71,874 shares at $50.19 per share price. According to the SEC, on Jun 2, 2015, Calvin Sharp (EVP – Human Resources) sold 2,261 shares at $51.25 per share price. On Jun 2, 2015, Shane M. Spradlin (EVP, Gen. Counsel & Sec.) sold 4,203 shares at $51.14 per share price, according to the Form-4 filing with the securities and exchange commission.

Penske Automotive Group Inc. is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles diesel engines gas engines power systems and related parts and services in Australia and New Zealand. The Company operates in two segments: Retail Automotive which includes the Company’s retail automotive dealership operations and Other which include the Company’s retail commercial vehicle dealership operations commercial vehicle distribution operations and its investments in non-automotive retail operations. The individual dealership operations of Retail Automotive segment operates in four geographic regions: Eastern Central Western United States and International. As of December 31 2014 the Company operated 327 automotive retail franchises of which 179 franchises are located in the United States and 148 franchises are located outside of the United States.

Penske Automotive Group

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