Seaport Global Initiates Coverage on Penske Automotive Group to Neutral

Seaport Global Initiates Coverage on Penske Automotive Group(NYSE:PAG). The shares have been rated Neutral. The rating by Seaport Global was issued on Aug 9, 2016.

In a different note, On Jun 28, 2016, KeyBanc said it Downgrades its rating on Penske Automotive Group. The shares have been rated ‘Sector Perform’ by the firm.

Penske Automotive Group (PAG) made into the market gainers list on Wednesdays trading session with the shares advancing 0.52% or 0.22 points. Due to strong positive momentum, the stock ended at $42.9, which is also near the day’s high of $42.96. The stock began the session at $42.76 and the volume stood at 11,34,693 shares. The 52-week high of the shares is $54.0949 and the 52 week low is $29.29. The company has a current market capitalization of $3,654 M and it has 8,51,75,279 shares in outstanding.

Penske Automotive Group(PAG) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.25B. Analysts had an estimated revenue of $5.17B. Earnings per share were $1.11. Analysts had estimated an EPS of $1.09.

Several Insider Transactions has been reported to the SEC. On Aug 5, 2016, Roger S Penske (CEO) purchased 220,632 shares at $39.32 per share price.Also, On Aug 5, 2016, Corp Penske (10% owner) purchased 220,632 shares at $39.32 per share price.On Jun 2, 2015, Calvin Sharp (EVP – Human Resources) sold 2,261 shares at $51.25 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.

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