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

Penske Automotive Group, Inc. (NYSE:PAG) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $184.4286.

A number of brokerages have recently commented on PAG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Bank of America began coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price objective on the stock. Finally, Barclays upped their target price on Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th.

Penske Automotive Group Price Performance

NYSE PAG opened at $156.77 on Friday. Penske Automotive Group has a 1 year low of $134.05 and a 1 year high of $189.51. The company has a fifty day simple moving average of $162.71 and a 200 day simple moving average of $167.49. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The company has a market cap of $10.31 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.54 EPS. On average, sell-side analysts predict that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Wednesday, February 25th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.6%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio (DPR) is currently 41.48%.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently added to or reduced their stakes in PAG. Caitong International Asset Management Co. Ltd raised its holdings in shares of Penske Automotive Group by 5,521.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 787 shares of the company’s stock worth $125,000 after buying an additional 773 shares in the last quarter. Virtu Financial LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at $669,000. Invesco Ltd. boosted its stake in Penske Automotive Group by 64.1% in the 4th quarter. Invesco Ltd. now owns 232,366 shares of the company’s stock valued at $36,781,000 after buying an additional 90,775 shares in the last quarter. Corient Private Wealth LLC grew its position in Penske Automotive Group by 75.3% in the fourth quarter. Corient Private Wealth LLC now owns 18,435 shares of the company’s stock valued at $2,918,000 after acquiring an additional 7,916 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in Penske Automotive Group in the fourth quarter valued at $359,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.