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

Penske Automotive Group, Inc. (NYSE:PAG) has earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $185.8571.

Several research firms recently weighed in on PAG. Benchmark increased their price target on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Morgan Stanley upped their price objective on Penske Automotive Group from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, Barclays assumed coverage on Penske Automotive Group in a research report on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 target price for the company.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $162.17 on Thursday. The business’s fifty day simple moving average is $165.81 and its 200 day simple moving average is $171.46. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12 month low of $134.05 and a 12 month high of $189.51. The firm has a market capitalization of $10.68 billion, a P/E ratio of 11.41 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.25). The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.39 earnings per share. As a group, analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be paid a $1.38 dividend. The ex-dividend date is Friday, November 14th. This represents a $5.52 dividend on an annualized basis and a yield of 3.4%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s dividend payout ratio (DPR) is presently 38.85%.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $160.17, for a total transaction of $336,357.00. Following the completion of the transaction, the chief financial officer owned 16,822 shares in the company, valued at $2,694,379.74. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 51.70% of the stock is currently owned by company insiders.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Penske Automotive Group in the 1st quarter worth approximately $1,916,000. Avantax Advisory Services Inc. bought a new position in shares of Penske Automotive Group in the first quarter worth $247,000. Cetera Investment Advisers boosted its holdings in shares of Penske Automotive Group by 7.9% in the first quarter. Cetera Investment Advisers now owns 4,662 shares of the company’s stock worth $671,000 after acquiring an additional 343 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Penske Automotive Group by 13.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,674 shares of the company’s stock valued at $817,000 after purchasing an additional 679 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Penske Automotive Group by 7.4% during the 1st quarter. LPL Financial LLC now owns 10,351 shares of the company’s stock valued at $1,490,000 after purchasing an additional 713 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.