Gabelli downgraded shares of Penske Automotive Group Inc. (NYSE:PAG) from a buy rating to a hold rating in a research note published on Thursday.

Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Penske Automotive Group from a hold rating to a buy rating in a report on Friday, May 27th. Seaport Global Securities started coverage on shares of Penske Automotive Group in a report on Tuesday, August 9th. They issued a neutral rating for the company. Finally, Zacks Investment Research lowered shares of Penske Automotive Group from a hold rating to a strong sell rating in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $48.00.

Shares of Penske Automotive Group (NYSE:PAG) opened at 48.47 on Thursday. Penske Automotive Group has a 12 month low of $29.29 and a 12 month high of $51.84. The company has a 50 day moving average price of $44.06 and a 200-day moving average price of $38.45. The stock has a market cap of $4.13 billion, a P/E ratio of 12.95 and a beta of 1.60.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.02. Penske Automotive Group had a net margin of 1.65% and a return on equity of 18.75%. The company earned $5.30 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business earned $1.04 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts predict that Penske Automotive Group will post $3.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 10th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, August 8th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.31%. Penske Automotive Group’s payout ratio is currently 29.95%.

In other Penske Automotive Group news, major shareholder Corp Penske acquired 710,121 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average price of $39.10 per share, with a total value of $27,765,731.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Shane M. Spradlin sold 4,900 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $48.31, for a total transaction of $236,719.00. The disclosure for this sale can be found here. Company insiders own 37.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Penske Automotive Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,737,562 shares of the company’s stock worth $86,124,000 after buying an additional 9,121 shares during the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Penske Automotive Group by 12.1% in the second quarter. Burgundy Asset Management Ltd. now owns 2,588,167 shares of the company’s stock worth $81,424,000 after buying an additional 280,120 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Penske Automotive Group by 6.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,739,066 shares of the company’s stock worth $54,711,000 after buying an additional 100,268 shares during the last quarter. Sentry Investments Corp. increased its stake in shares of Penske Automotive Group by 4.9% in the second quarter. Sentry Investments Corp. now owns 1,318,661 shares of the company’s stock worth $41,485,000 after buying an additional 62,000 shares during the last quarter. Finally, Fiduciary Management Inc. WI acquired a new stake in shares of Penske Automotive Group during the second quarter worth about $31,193,000. 40.55% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

Penske Automotive Group, Inc is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles, diesel engines, gas engines, power systems and related parts, and services in Australia and New Zealand.

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