Penske Automotive Group, Inc. (NYSE:PAG) Receives $182.63 Average Price Target from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $182.6250.

Several analysts recently commented on PAG shares. Weiss Ratings restated a “hold (c+)” rating on shares of Penske Automotive Group in a research report on Thursday, June 11th. JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and issued a $190.00 price target on shares of Penske Automotive Group in a research note on Thursday, May 7th. Citigroup raised their price target on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Barclays reduced their target price on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th.

Penske Automotive Group Price Performance

Shares of PAG opened at $175.33 on Monday. The company has a 50 day moving average price of $167.28 and a 200-day moving average price of $162.37. Penske Automotive Group has a fifty-two week low of $140.12 and a fifty-two week high of $189.51. The stock has a market capitalization of $11.53 billion, a PE ratio of 13.08, a PEG ratio of 2.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter in the prior year, the company posted $3.66 earnings per share. Penske Automotive Group’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts predict that Penske Automotive Group will post 13.46 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 26th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, May 26th. Penske Automotive Group’s payout ratio is currently 42.39%.

Insiders Place Their Bets

In other Penske Automotive Group news, Director Greg C. Smith sold 1,488 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total transaction of $238,109.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the transaction, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. 52.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PAG. Parallel Advisors LLC raised its holdings in Penske Automotive Group by 15.1% in the first quarter. Parallel Advisors LLC now owns 441 shares of the company’s stock valued at $66,000 after buying an additional 58 shares during the period. California State Teachers Retirement System increased its stake in shares of Penske Automotive Group by 0.4% in the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock worth $3,167,000 after buying an additional 65 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Penske Automotive Group by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after buying an additional 65 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in Penske Automotive Group by 5.4% during the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock valued at $219,000 after purchasing an additional 65 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Penske Automotive Group by 8.5% during the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock valued at $124,000 after purchasing an additional 65 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 (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.