Penske Automotive Group (NYSE:PAG) Sets New 1-Year Low – Should You Sell?

Penske Automotive Group, Inc. (NYSE:PAG)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $140.21 and last traded at $143.84, with a volume of 56760 shares changing hands. The stock had previously closed at $150.00.

Analyst Ratings Changes

A number of analysts have commented on PAG shares. Benchmark began coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Stock Down 3.2 %

The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 10.57 and a beta of 1.24. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $163.03 and a 200-day moving average price of $159.62.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. As a group, equities analysts anticipate that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $1.22 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 3.36%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Insiders Place Their Bets

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Barr sold 1,529 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently modified their holdings of the stock. Burgundy Asset Management Ltd. raised its holdings in shares of Penske Automotive Group by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock worth $122,998,000 after acquiring an additional 13,106 shares in the last quarter. CSS LLC IL grew its position in Penske Automotive Group by 42.9% in the fourth quarter. CSS LLC IL now owns 2,650 shares of the company’s stock worth $404,000 after acquiring an additional 796 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Penske Automotive Group by 14.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company’s stock worth $10,028,000 after purchasing an additional 8,438 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Penske Automotive Group by 4.4% during the 4th quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company’s stock valued at $20,430,000 after purchasing an additional 5,669 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Penske Automotive Group by 4.7% in the 4th quarter. Squarepoint Ops LLC now owns 19,643 shares of the company’s stock valued at $2,994,000 after purchasing an additional 873 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.