Tue Sep 17 06:34:26 UTC 2024: ## Penske Automotive Group Holds Steady Amidst Mixed Analyst Opinions

**Detroit, MI -** Penske Automotive Group (PAG), a global leader in automotive and commercial truck dealerships, has earned a consensus “Hold” rating from analysts, according to MarketBeat. While two analysts recommend selling, one suggests holding, and two recommend buying PAG stock. The average 12-month price target sits at $162.40.

JPMorgan Chase & Co. downgraded PAG to “Underweight” but increased their price target to $160.00, while Bank of America maintained a “Buy” rating and upped their price target to $180.00. Stephens initiated coverage with an “Equal Weight” rating and a $161.00 target price.

PAG recently exceeded analysts’ expectations for Q2 earnings, reporting $3.61 EPS compared to the anticipated $3.39. Revenue also surpassed estimates at $7.70 billion. However, the company’s revenue growth slowed compared to the previous year.

PAG’s dividend also saw an increase, rising from $0.96 to $1.07 per share. This represents a 2.74% dividend yield.

Institutional investor activity in PAG shares is mixed. Fifth Third Bancorp and Blue Trust Inc. increased their holdings, while International Assets Investment Management LLC, WFA Asset Management Corp, and NDVR Inc. purchased new stakes.

**Overall, the mixed analyst opinions and recent investor activity point to a cautious outlook for PAG stock. While the company continues to show solid financial performance, concerns about slowing revenue growth may be dampening sentiment.**

**Investors are advised to closely monitor PAG’s future earnings reports and announcements for further insights into the company’s trajectory.**

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