Penske Automotive Group (NYSE:PAG) Price Target Raised to $210.00

Penske Automotive Group (NYSE:PAG) had its target price increased by Stephens from $166.00 to $210.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

Several other research firms have also weighed in on PAG. Citigroup lowered Penske Automotive Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $199.00 to $210.00 in a research report on Thursday, July 23rd. Weiss Ratings raised Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Barclays increased their price target on shares of Penske Automotive Group from $190.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $207.88.

Penske Automotive Group Price Performance

PAG stock opened at $215.84 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. Penske Automotive Group has a 1 year low of $140.12 and a 1 year high of $227.00. The firm has a 50-day moving average of $189.69 and a 200 day moving average of $170.02. The company has a market cap of $14.17 billion, a P/E ratio of 15.89, a PEG ratio of 2.94 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%.The business had revenue of $8.51 billion for the quarter, compared to analysts’ expectations of $7.98 billion. During the same period in the previous year, the firm posted $3.78 EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Penske Automotive Group will post 13.48 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 2.7%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, August 14th. Penske Automotive Group’s dividend payout ratio is presently 41.83%.

Insider Buying and Selling at Penske Automotive Group

In other news, CFO Michelle Hulgrave sold 1,500 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the completion of the transaction, the chief financial officer directly owned 17,596 shares in the company, valued at $3,022,992.80. This trade represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. The SEC filing for this sale provides additional information. 52.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Penske Automotive Group by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after acquiring an additional 84,045 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Penske Automotive Group by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock valued at $9,918,000 after acquiring an additional 3,100 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Penske Automotive Group during the 1st quarter valued at $42,000. EverSource Wealth Advisors LLC increased its holdings in shares of Penske Automotive Group by 506.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock worth $151,000 after purchasing an additional 735 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Penske Automotive Group by 47.0% in the 2nd quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock worth $534,000 after purchasing an additional 994 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

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.