Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Rating of “Hold” from Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has been given a consensus rating of “Hold” by the four analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $162.75.

Several research analysts have commented on PAG shares. JPMorgan Chase & Co. lifted their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research note on Tuesday. Stephens initiated coverage on Penske Automotive Group in a research note on Thursday. They set an “equal weight” rating and a $161.00 price target for the company. Finally, Bank of America increased their target price on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

Several hedge funds and other institutional investors have recently bought and sold shares of PAG. PNC Financial Services Group Inc. grew its stake in shares of Penske Automotive Group by 1.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock worth $672,000 after purchasing an additional 73 shares during the period. Arizona State Retirement System grew its position in Penske Automotive Group by 1.5% during the second quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock valued at $838,000 after buying an additional 84 shares during the period. Fifth Third Bancorp increased its holdings in Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Penske Automotive Group by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the company’s stock worth $907,000 after acquiring an additional 100 shares during the period. Finally, State of Michigan Retirement System boosted its stake in shares of Penske Automotive Group by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 4,800 shares of the company’s stock worth $778,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $148.44 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98. The company has a market cap of $9.93 billion, a P/E ratio of 10.32 and a beta of 1.16. Penske Automotive Group has a 52-week low of $137.95 and a 52-week high of $179.72. The firm’s fifty day moving average is $160.35 and its two-hundred day moving average is $155.39.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.39 by $0.22. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. Penske Automotive Group’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.41 earnings per share. As a group, analysts anticipate that Penske Automotive Group will post 13.83 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $1.07 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.28 dividend on an annualized basis and a yield of 2.88%. Penske Automotive Group’s dividend payout ratio is presently 29.76%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.