Penske Automotive Group, Inc. (NYSE:PAG) Given Average Recommendation of “Moderate Buy” by Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $182.6250.

Several analysts have issued reports on the stock. UBS Group assumed coverage on shares of Penske Automotive Group in a research note on Wednesday. They issued a “neutral” rating and a $167.00 target price on the stock. Stephens increased their price target on shares of Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Citigroup increased their price target on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Barclays decreased their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th.

Insider Activity at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,488 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 52.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of Penske Automotive Group by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock worth $234,914,000 after buying an additional 92,794 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Penske Automotive Group by 11.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock worth $216,489,000 after buying an additional 154,443 shares during the last quarter. Diamant Asset Management Inc. grew its holdings in shares of Penske Automotive Group by 14,852.0% during the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after purchasing an additional 878,496 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Penske Automotive Group by 39,232.7% during the 4th 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. Finally, AQR Capital Management LLC grew its holdings in shares of Penske Automotive Group by 6.6% during the 3rd quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock valued at $125,043,000 after purchasing an additional 44,749 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE PAG opened at $168.79 on Thursday. Penske Automotive Group has a 1 year low of $140.12 and a 1 year high of $189.51. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22. The stock has a market capitalization of $11.10 billion, a PE ratio of 12.60, a P/E/G ratio of 2.16 and a beta of 0.90. The company’s 50 day simple moving average is $158.01 and its two-hundred day simple moving average is $160.55.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.14. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The business had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the prior year, the company posted $3.66 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts predict that Penske Automotive Group will post 13.44 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 26th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, May 26th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. Penske Automotive Group’s payout ratio is currently 42.39%.

Penske Automotive Group Company Profile

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.