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John Barr, a director at Penske Automotive Group, Inc. (NYSE:PAG), recently sold 1,529 shares of the company’s common stock on March 13, according to a regulatory filing. The shares were sold at a weighted average price of $155.45, with the transaction executed at prices ranging from $155.11 to $155.75. This sale amounted to a total value of $237,683. Following the transaction, Barr no longer holds any shares of Penske Automotive Group directly.The sale comes as PAG’s stock has experienced significant pressure, dropping nearly 12% over the past week. According to InvestingPro data, the company trades at a P/E ratio of 10.9 and has maintained dividend payments for 15 consecutive years. While analysts have set price targets ranging from $152 to $206, InvestingPro analysis suggests the stock is currently overvalued. Investors can access 10+ additional exclusive ProTips and comprehensive valuation metrics through the detailed Pro Research Report available on InvestingPro.
In other recent news, Penske Automotive Group reported strong financial results for the fourth quarter of 2024, with an earnings per share (EPS) of $3.54, surpassing analyst expectations of $3.29. The company’s revenue also exceeded projections, reaching $7.72 billion, a 6% increase from the previous year. The growth was primarily driven by the Automotive Retail segment, which accounted for 87% of the total revenue, with notable increases in Service and Parts and New Vehicle Sales. Penske’s net income rose by 24% to $236 million, while the gross margin remained steady at 16.3% for the sixth consecutive quarter. Despite these positive results, CFRA analyst Garrett Nelson maintained a Sell rating on Penske Automotive, although he raised the price target to $140.00 from $130.00 due to a revised upward earnings per share estimate for 2025. Nelson pointed out the company’s slowdown in share repurchase activity as a concern, with only $59 million in buybacks in 2024 compared to previous years. Penske Automotive’s strategic focus on premium brands and expansion into international markets contributed to its robust performance.
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