Penske Automotive Group, Inc. (NYSE:PAG) Stock Has Average Price Target of $211.14

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $211.14.

PAG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Barclays raised their target price on Penske Automotive Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Citigroup cut 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. Stephens boosted their price target on Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, UBS Group set a $190.00 price objective on Penske Automotive Group in a research report on Friday, July 10th.

Penske Automotive Group Stock Performance

Shares of NYSE PAG opened at $209.74 on Wednesday. The company has a 50 day simple moving average of $215.78 and a two-hundred day simple moving average of $183.80. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 15.44 and a beta of 0.84. The company has a current ratio of 0.98, a quick ratio of 0.21 and a debt-to-equity ratio of 0.36. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $227.00.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The firm had revenue of $8.51 billion during the quarter, compared to analysts’ expectations of $7.98 billion. During the same quarter last year, the company posted $3.78 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Penske Automotive Group will post 13.66 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date was Friday, August 14th. Penske Automotive Group’s payout ratio is currently 42.42%.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently modified their holdings of PAG. BlackRock Inc. acquired a new position in Penske Automotive Group in the 2nd quarter worth about $417,516,000. Dimensional Fund Advisors LP boosted its position in Penske Automotive Group by 11.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock worth $216,489,000 after purchasing an additional 154,443 shares in the last quarter. Diamant Asset Management Inc. grew its holdings in Penske Automotive Group by 14,852.0% in the first 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 period. Bank of America Corp DE grew its holdings in Penske Automotive Group by 4.5% in the first quarter. Bank of America Corp DE now owns 463,784 shares of the company’s stock valued at $69,345,000 after purchasing an additional 19,850 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 388,977 shares of the company’s stock valued at $58,160,000 after buying an additional 13,210 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE:PAG) is a diversified international transportation services company that operates automotive and commercial vehicle dealerships, as well as businesses serving the truck leasing and transportation industries. Its automotive retail operations sell new and used vehicles from a broad range of manufacturers and provide related services, including vehicle financing and insurance products, parts, maintenance and repair.

The company operates automotive dealerships in the United States, the United Kingdom, Australia, Germany and Italy.