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

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $183.7143.

A number of research analysts recently commented on PAG shares. Barclays increased their price target on Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, February 17th. Bank of America began coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Finally, Weiss Ratings lowered shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th.

Hedge Funds Weigh In On Penske Automotive Group

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Penske Automotive Group by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock worth $234,914,000 after purchasing an additional 92,794 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Penske Automotive Group by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock valued at $204,761,000 after buying an additional 156,308 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in Penske Automotive Group by 3.1% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 890,356 shares of the company’s stock worth $152,972,000 after buying an additional 26,827 shares during the last quarter. Bank of Montreal Can lifted its holdings in Penske Automotive Group by 39,232.7% during the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock worth $136,660,000 after buying an additional 861,157 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Penske Automotive Group by 6.6% in the 3rd quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock worth $125,043,000 after acquiring an additional 44,749 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $149.57 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.22. The company’s fifty day moving average price is $157.51 and its two-hundred day moving average price is $162.72. The firm has a market capitalization of $9.83 billion, a P/E ratio of 11.08, a P/E/G ratio of 1.55 and a beta of 0.90. Penske Automotive Group has a 12 month low of $134.05 and a 12 month high of $189.51.

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

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, February 25th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. Penske Automotive Group’s payout ratio is presently 41.48%.

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.