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

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Penske Automotive Group, Inc. (NYSE:PAG) has received an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $55.00.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Penske Automotive Group from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a research note on Thursday, October 17th. Morgan Stanley upped their price target on shares of Penske Automotive Group from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th.

In other news, CFO John D. Jr. Carlson sold 5,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $51.34, for a total value of $256,700.00. Following the sale, the chief financial officer now owns 32,659 shares of the company’s stock, valued at $1,676,713.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Shane M. Spradlin sold 2,500 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $48.55, for a total transaction of $121,375.00. Following the completion of the sale, the executive vice president now directly owns 41,982 shares in the company, valued at approximately $2,038,226.10. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock worth $624,325. Insiders own 42.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. purchased a new stake in shares of Penske Automotive Group in the second quarter valued at $31,000. Pearl River Capital LLC purchased a new stake in shares of Penske Automotive Group in the second quarter valued at $31,000. Tower Research Capital LLC TRC raised its stake in shares of Penske Automotive Group by 105.7% in the second quarter. Tower Research Capital LLC TRC now owns 796 shares of the company’s stock valued at $38,000 after acquiring an additional 409 shares during the period. Signaturefd LLC raised its stake in shares of Penske Automotive Group by 90.5% in the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $42,000 after acquiring an additional 417 shares during the period. Finally, TD Capital Management LLC purchased a new stake in shares of Penske Automotive Group in the second quarter valued at $43,000. 42.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of PAG traded up $0.28 during mid-day trading on Monday, reaching $50.77. The stock had a trading volume of 2,987 shares, compared to its average volume of 284,248. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.66 and a beta of 1.28. Penske Automotive Group has a 12 month low of $38.49 and a 12 month high of $53.13. The business has a fifty day moving average of $49.38 and a 200 day moving average of $46.17. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.21 and a current ratio of 0.97.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.01. The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.89 billion. Penske Automotive Group had a net margin of 1.91% and a return on equity of 16.40%. Penske Automotive Group’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 earnings per share. On average, research analysts forecast that Penske Automotive Group will post 5.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 8th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.64 annualized dividend and a dividend yield of 3.23%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.40. Penske Automotive Group’s dividend payout ratio is currently 30.71%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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