Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Rating of “Hold” from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $166.25.

PAG has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. StockNews.com lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, Stephens reissued an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Barr sold 1,529 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PAG. Highland Capital Management LLC purchased a new stake in Penske Automotive Group during the fourth quarter worth $240,000. Blue Trust Inc. raised its stake in shares of Penske Automotive Group by 28.3% in the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock valued at $198,000 after acquiring an additional 269 shares during the period. Merit Financial Group LLC acquired a new position in shares of Penske Automotive Group during the fourth quarter worth about $287,000. Sanctuary Advisors LLC purchased a new position in Penske Automotive Group in the 3rd quarter worth approximately $415,000. Finally, Rhumbline Advisers grew its holdings in Penske Automotive Group by 4.7% during the 4th quarter. Rhumbline Advisers now owns 54,063 shares of the company’s stock valued at $8,241,000 after purchasing an additional 2,446 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

PAG stock opened at $150.81 on Wednesday. The firm has a market cap of $10.07 billion, a P/E ratio of 10.97 and a beta of 1.03. Penske Automotive Group has a 52 week low of $134.05 and a 52 week high of $180.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm’s fifty day moving average is $157.37 and its 200 day moving average is $158.37.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Research analysts predict that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.