Fri, May 15, 3:38 PM
- Penske Automotive (PAG +1.5%) is exploring a sale of its Truck-Lite unit in a deal that could approach $1B, and has hired Robert W. Baird to run an auction, Reuters reports.
- Truck-Lite manufactures lighting and safety accessories for the heavy-duty truck, trailer and commercial vehicle industries, and has annual EBITDA of ~$100M.
Wed, Feb. 11, 1:37 PM
- Penske Automotive Group ((NYSE:PAG) -6.6%) trades lower after the company reports Q4 earnings.
- Retail sales were up 8% in the U.S. and 16.9% globally during the quarter.
- Average transaction price: New cars +0.8% to $40,642, Used cars +1.5% to $27,035.
- Restructuring costs and softness in the Australian business chipped away at profit.
Oct. 3, 2014, 5:36 PM
Oct. 2, 2014, 9:40 AM
- There's more than passing interest in the auto retailer/dealership group over Warren Buffett's acquisition of Van Tuyl Group.
- Analysts have already tapped the sector as ripe for M&A opportunities before Buffett skipped into the fray.
- AutoNation (AN +2.2%), CarMax (KMX +1.5%), Sonic Automotive (SAH +3.5%), Lithia Motors (LAD +7.1%), Penske Automotive (PAG +3.4%), Group 1 Automotive (GPI +3.5%), Asbury Automotive (ABG +5.5%), Rush Enterprises (RUSHA) are all higher in early action.
- Related: Strong comps at AutoNation.
Apr. 3, 2012, 12:32 PMBuckingham Research hikes its ratings to Buy on auto retailers Group 1 (GPI +4.4%), Asbury (ABG +3.7%) and Penske (PAG +4.3%) as the best way to play a recovery in U.S. light vehicle sales. "Auto retailers tend to experience strong stock performance during the second quarter, with auto retailer stocks increasing 20% on average during the 2002-2011 period." | Comment!
Apr. 3, 2012, 10:59 AM
Mar. 14, 2012, 4:19 PM
Feb. 16, 2012, 11:56 AMGabelli says Penske Automotive (PAG +1.2%) is still undervalued even at these lofty levels, and should be bought on weakness. Despite flat same-store new unit sales, the firm notes that net profit was up 67% Y/Y on higher overall sales and better pricing, and maintains a Buy rating on the stock. | Comment!
Jan. 12, 2012, 2:41 PM
Nov. 2, 2011, 1:26 PMShares of Penske Automotive Group (PAG) shoot up 9.6% after the automotive retailer shows better-than-expected Q3 profits led by a 16% Y/Y gain in used unit retail sales. CEO Roger Penske says the firm should fully recover to normal production in Q1 after the Japan natural disaster disrupted the supply chain since March. | Comment!
PAG vs. ETF Alternatives
Penske Automotive Group Inc is a transportation services company. It operates automotive and commercial vehicle dealership in the United States and Western Europe & distributes commercial vehicles, diesel engines and related parts.
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