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Penske's (PAG) McCoy Buyout to Add $200M to Annual Revenues

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Penske Automotive Group, Inc. PAG recently acquired McCoy Freightliner, a retailer of medium and heavy-duty commercial trucks, located in Oregon. Roughly $200 million in annualized revenues is expected to be generated from the acquisition. The buyout seeks to scale up the company's wholly-owned subsidiary, Premier Truck Group.

The acquisition of McCoy will add two full-service dealerships located in Portland and Salem, OR, and a remarketing center in Portland to Premier Group's existing operations.

Premier Group is enthusiastic about the McCoy buyout as it is set to potentially expand its reach to the Pacific Northwest while improving its customer service and building up operations.

Premium Truck Group operates 37 North American commercial trucks in locations, including Texas, Oklahoma, Oregon, Tennessee, Georgia, Utah, Idaho and Ontario, Canada, which are expected to bring home $2.5 billion in annual revenues.

Notably, the completion of retail automotive and commercial truck dealerships has added around $1.1 billion in expected annualized revenues for Penske, year to date.

In another recent development, Penske opened its eighth U.S.-based CarShop location in Scottsdale, ARI. The new facility is the company’s latest expansion as a global brand in car purchase and has created 50 jobs in the local community. The location boasts a hassle-free car-buying experience and a fully-equipped service center with certified and expert trainers.

Penske Automotive Group, Inc. Price and Consensus

Penske Automotive Group, Inc. Price and Consensus
Penske Automotive Group, Inc. Price and Consensus

Penske Automotive Group, Inc. price-consensus-chart | Penske Automotive Group, Inc. Quote

Zacks Rank & Other Key Picks

Penske currently sports a Zacks Rank #1 (Strong Buy).

Other top-ranked peers in the same space are AutoNation AN, flaunting a Zacks Rank #1, and Best Buy BBY and Titan Machinery TITN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AutoNation has an expected earnings growth rate of 143% for the current year. The Zacks Consensus Estimate for earnings for the current year has been revised 13% upward over the last 60 days.

AutoNation beat the Zacks Consensus Estimate for earnings in all the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 41%, on average. Its shares have also gained around 111.2% over a year.

Best Buy has an expected earnings growth rate of 27% for the current year. The Zacks Consensus Estimate for the current year has been revised around 1% upward over the past 60 days.

Best Buy beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters. The company delivered a trailing four-quarter earnings surprise of roughly 32%, on average. Its shares have rallied around 13.3% over a year.

Titan has an expected earnings growth rate of 70% for the current year. The Zacks Consensus Estimate for the current year has been revised 9.2% upward over the past 60 days.

Titan beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters. The company pulled off a trailing four-quarter earnings surprise of roughly 90.2%, on average. Its shares have also rallied around 96.2% over a year.


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