Penske Automotive Group (NYSE:PAG) Price Target Lowered to $190.00 at Barclays

Penske Automotive Group (NYSE:PAG) had its price target cut by Barclays from $195.00 to $190.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

PAG has been the subject of a number of other reports. Weiss Ratings cut shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. Bank of America started coverage on shares of Penske Automotive Group in a research report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Penske Automotive Group has an average rating of “Moderate Buy” and an average target price of $183.00.

Penske Automotive Group Trading Down 0.5%

Shares of PAG opened at $147.93 on Tuesday. The company has a market capitalization of $9.73 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.99. The stock has a fifty day moving average of $156.19 and a two-hundred day moving average of $161.70. Penske Automotive Group has a fifty-two week low of $138.24 and a fifty-two week high of $189.51.

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

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Wednesday, February 25th were paid a $1.40 dividend. The ex-dividend date was Wednesday, February 25th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 annualized dividend and a dividend yield of 3.8%. Penske Automotive Group’s dividend payout ratio (DPR) is 41.48%.

Institutional Investors Weigh In On Penske Automotive Group

Several large investors have recently made changes to their positions in PAG. Meixler Investment Management Ltd. bought a new position in shares of Penske Automotive Group in the third quarter valued at approximately $1,154,000. Convergence Investment Partners LLC bought a new position in shares of Penske Automotive Group in the third quarter valued at approximately $1,157,000. Alps Advisors Inc. bought a new stake in Penske Automotive Group during the third quarter worth approximately $5,585,000. JPMorgan Chase & Co. boosted its holdings in Penske Automotive Group by 21.2% during the third quarter. JPMorgan Chase & Co. now owns 111,775 shares of the company’s stock worth $19,439,000 after buying an additional 19,561 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Penske Automotive Group by 15.7% during the third quarter. Rhumbline Advisers now owns 58,783 shares of the company’s stock worth $10,223,000 after buying an additional 7,978 shares in 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.