Penske Automotive Group, Inc.NYSE
Penske Automotive Group: What Happened?
Alpha Gen Capital
Alpha Gen Capital
Wed, Oct. 19, 8:06 AM
Mon, Oct. 10, 11:18 AM
- Manheim reports wholesale used vehicle prices were flat M/M and up 1.7% Y/Y in September to a reading of 126.9. The pickup and van segment showed the biggest gain across the different classes.
- "The continued strength in wholesale pricing is largely explained by current and past increases in new vehicle transaction prices – even after adjusted for mix shifts," notes Cox automotive economist Tom Webb.
- Used unit retail sales rose 4.7% YTD through the end of August.
- Related stocks: PAG, AN, CRMT, SAH, LAD, ABG, KMX, CPRT, RUSHA, RUSHB.
Tue, Oct. 4, 8:00 AM
Tue, Sep. 13, 11:16 AM
- Penske Automotive Group (PAG +1.6%) touched $50 for the first time this year after another round of insider buying was reported. Shares are now up over 60% from their low level in January.
- SA contributor Arie Goren had an early bull call on Penske before the recent run-up in share price.
- Penske SEC filings
Thu, Jul. 28, 6:55 AM
Wed, Jul. 27, 5:30 PM
- AB, ABMD, ACIW, ACOR, ADP, AEP, ALKS, ALLE, ALXN, AMT, APD, ARIA, AZN, BC, BCC, BCO, BCOR, BEN, BG, BGCP, BHI, BMS, BMY, BSX, BWA, BWEN, BZH, CAB, CBG, CBM, CELG, CFX, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRR, CRS, CS, CSH, CVI, CVRR, CWT, DBD, DFT, DLX, DOW, DSX, EME, EPD, EQM, EQT, EXLS, F, FCFS, FCN, FI, FIG, FITB, FLY, FSS, GLOP, GNC, GOV, GPI, GPN, GRUB, GTLS, HCA, HEES, HOG, HP, HSY, HTH, IART, IDA, IGT, INCR, INGR, IP, IPGP, IRDM, ITC, ITG, IVC, IVZ, KEM, LAD, LAZ, LDOS, LEA, LKQ, LLL, LPG, MA, MCS, MD, MDP, MDWD, MINI, MITK, MJN, MKTX, MMC, MNRO, MPC, MPLX, MSCI, MTH, MTRN, MVIS, NAP, NEWM, NICE, NMR, NOV, NTCT, NYT, OAK, ODFL, ORI, OSK, PAG, PCG, PES, PF, PJC, PNR, POT, PRLB, PTEN, PX, RDN, RDS.A, RPM, RTN, SCG, SEE, SERV, SFE, SPB, SPGI, SQBG, SQNS, STNG, SXC, SXCP, TCK, TFX, TGI, THRM, TKR, TMO, TPX, TREE, TRI, TZOO, UAN, UBSI, UTHR, VC, VGR, VIVO, VNTV, WCC, WILN, WRLD, WST, WWE, YNDX, ZBH
Wed, Jul. 27, 7:53 AM
Tue, Jun. 7, 3:56 PM
- The Manheim Used Vehicle Value Index rose 0.6% Y/Y and 1.4% M/M in May to help give a boost today to auto retailer stocks.
- The index rose for the first time on a year-over-year comparison since last December (per Bloomberg).
- Sandler O'Neill analyst Crispin Love calls the used car price reading "surprisingly strong" and says the firm will look for confirmation in other data.
- Related stocks: AutoNation (AN +2.5%), CarMax (KMX +2%), Group 1 Automotive (GPI +1%), Penske Automotive (PAG +1.6%), AutoZone (AZO +0.6%), O'Reilly Automotive (ORLY +0.6%), Monro Muffler Brake (MNRO +0.8%).
Thu, May 26, 12:14 PM
- RIght now, the chance of an affirmative vote in the Brexit referendum is looking mighty slim, so it's hard to imagine much of an edge here. Nevertheless, the team at JPMorgan has identified 22 U.S. stocks with the highest U.K. exposure as a percent of revenue. These names would thus theoretically benefit from a "Remain" vote.
- Penske (NYSE:PAG), PPL Corp. (NYSE:PPL), PRA Health (NASDAQ:PRAH), Invesco (NYSE:IVZ), Xerox (NYSE:XRX), Ford (NYSE:F), Copart (NASDAQ:CPRT), CBRE Group (NYSE:CBG), Genesee & Wyoming (NYSE:GWR), eBay (NASDAQ:EBAY), Marsh & McLennan (NYSE:MMC), MSCI (NYSE:MSCI), ON Semi (NASDAQ:ON), Aon (NYSE:AON), PayPal (NASDAQ:PYPL), Crane (NYSE:CR), Maximus (NYSE:MMS), Legg Mason (NYSE:LM), Guidewire (NYSE:GWRE), Signet (NYSE:SIG), Fair Isaac (NYSE:FICO), DST Systems (NYSE:DST).
Wed, May 25, 8:57 AM
- An analysis of data from LendingTree suggests that millennials want to drive and own cars.
- "The share of millennial auto loan requests has climbed from roughly 27 percent in early 2013 to about 34 percent in 2016, suggesting a return of younger buyers to the car market," concludes Lending Tree after diving into loan requests.
- On a volume basis, the most popular cars that millennials requested a loan for were the Nissan Altima, Dodge Charger, Honda Accord, Chevrolet Impala, and Chevrolet Tahoe. Millennials opted for used vehicles at a slightly higher clip than older drivers, 46% vs. 44%.
- The crush of major automaker-tech firm partnerships (Toyota-Uber, GM-Lyft, Fiat-Google, Volkswagen-Gett) popping up is predicated in part on a younger generation attuned to ride-sharing and ride-hailing. There's also been an assumption by some analysts of a topping out of U.S. auto demand this year or next due in part to millennial disinterest.
- Related automaker/auto retailer stocks: PAG, ABG, LAD, GPI, SAH, KMX, AN, RUSHA, OTCPK:DDAIF, TM, HMC, TSLA, TTM, OTCPK:VLKAY, GM, F, OTCPK:NSANY, OTCPK:BAMXY, OTCPK:FUJHF.
Wed, May 4, 8:49 AM
- Penske Automotive (NYSE:PAG) declares $0.27/share quarterly dividend, 3.8% increase from prior dividend of $0.26.
- Forward yield 2.86%
- Payable June 1; for shareholders of record May 16; ex-div May 12.
Tue, Apr. 26, 12:55 PM
- Penske Automotive Group (PAG +8.8%) is higher after beating on both lines of its Q1 report.
- Same-store retail revenue increased 2.5% during the quarter, +4.7% on a constant currency basis.
- Unit sales were up 9.9% to 111,494 with gains from the new and used business both close to 10%.
- The average transaction price per unit was -3.8% to $38,607 for new vehicles and +0.4% to $26,780 for used.
- The company says the acquisition of Harper Truck Centres will add about $130M to annualized revenue.
- Previously: Penske Automotive beats by $0.02, beats on revenue (April 26)
Tue, Apr. 26, 6:58 AM
- Penske Automotive (NYSE:PAG): Q1 EPS of $0.90 beats by $0.02.
- Revenue of $4.82B (+7.6% Y/Y) beats by $30M.
Mon, Apr. 25, 5:30 PM
- ABG, ABX, AHGP, AIXG, AKS, ALLY, ARLP, ATI, AVX, AXE, BAX, BEAV, BLMN, BP, CNC, CNX, COH, CPLA, CRS, CTG, CYNO, DD, DFRG, DTE, ENTG, ETR, FBC, FCAU, FCH, FCX, FLIR, FLWS, FMER, GLPI, GLW, GPK, HSY, HUBB, HZO, ICLR, IIVI, IR, JBLU, JNS, LLY, LMT, LPT, MAS, MDXG, MHFI, MMM, NCI, ODP, PAG, PCAR, PCH, PG, PH, PNR, POL, R, RAI, SAH, SAVE, SCL, SIR, SPG, ST, SUI, SVU, TEN, TMUS, TRI, TROW, WAB, WAT, WDR, WHR, WYN
Wed, Mar. 16, 10:23 AM
- The percentage of BMW (OTCPK:BAMXY) vehicles either leased or financed went to 46.3% in 2015 from a level of 41.8% just a year prior, observes Bloomberg Gadfly. A massive jump for a short time period.
- Though the company isn't suffering from some of the delinquency issues that are picking up in the automobile industry (see subprime concerns for lenders, auto retailers, and Detroit majors), there could be implications down the road as a glut of vehicles come off their leases.
- Across the industry, vehicle leasing as a percentage of sales rose to 32.3% in February vs. the average of 28% in 2015. That's a development that could add to pricing pressure down the road for high-end and mass market brands as a higher percentage of vehicles come off their leases.
- Related stocks: PAG, ABG, LAD, GPI, SAH, KMX, AN, RUSHA, OTCPK:DDAIF, TM, HMC, TSLA, TTM, OTCPK:VLKAY, GM, F.
Tue, Mar. 15, 10:53 AM
- There's sharp losses in the auto dealer sector today. The negative stance from investors could be a reaction to increasing concerns on subprime auto loans.
- Decliners: Penske Automotive (PAG -4.4%), Sonic Automotive (SAH -4%), Asbury Automotive (ABG -2.8%), CarMax (KMX -3.3%), Lithia Motors (LAD -3.6%), AutoNation (AN -3.7%), Group 1 Automotive (GPI -2.3%), Rush Enterprises (RUSHA -1.9%).
- Previously: Shades of subprime flash warning for auto sales (Mar. 14 2016)
- Previously: Subprime auto worry hits lenders (Mar. 15 2016)