Penske Automotive Group, Inc. (NYSE:PAG) Receives $183.71 Average Target Price from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAGGet Free Report) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $183.7143.

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. Bank of America assumed coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Barclays lowered their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th.

View Our Latest Stock Analysis on PAG

Penske Automotive Group Trading Up 2.3%

PAG stock opened at $177.22 on Tuesday. Penske Automotive Group has a 12 month low of $134.05 and a 12 month high of $189.51. The firm’s 50-day moving average is $164.12 and its 200 day moving average is $168.91. The company has a market capitalization of $11.67 billion, a PE ratio of 13.13, a P/E/G ratio of 2.38 and a beta of 0.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.21.

Penske Automotive Group (NYSE:PAGGet Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.28). The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.Penske Automotive Group’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.54 earnings per share. On average, research analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Wednesday, February 25th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a yield of 3.2%. Penske Automotive Group’s dividend payout ratio is 38.85%.

Insiders Place Their Bets

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the sale, the chief financial officer owned 16,822 shares of the company’s stock, valued at approximately $2,694,379.74. This trade represents a 11.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

A number of hedge funds have recently made changes to their positions in PAG. Bank of Montreal Can grew its stake in Penske Automotive Group by 39,232.7% in the fourth quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock valued at $136,660,000 after purchasing an additional 861,157 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Penske Automotive Group by 48.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after buying an additional 456,611 shares in the last quarter. Norges Bank purchased a new position in shares of Penske Automotive Group in the 4th quarter worth approximately $32,137,000. Dimensional Fund Advisors LP grew its position in shares of Penske Automotive Group by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock worth $204,761,000 after buying an additional 156,308 shares during the last quarter. Finally, Hamlin Capital Management LLC bought a new position in shares of Penske Automotive Group during the 4th quarter worth approximately $20,203,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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Penske Automotive Group Company Profile

(Get Free Report)

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.

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