Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has received an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Three equities research 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 brokerages that have updated their coverage on the stock in the last year is $184.8571.

Several research analysts have commented on PAG shares. Citigroup lifted their price target on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Barclays decreased their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price target on shares of Penske Automotive Group from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $190.00 target price on shares of Penske Automotive Group in a research note on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th.

Penske Automotive Group Trading Up 0.1%

PAG stock opened at $164.95 on Thursday. The company has a market capitalization of $10.85 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90. Penske Automotive Group has a one year low of $140.12 and a one year high of $189.51. The company’s 50 day moving average price is $157.11 and its two-hundred day moving average price is $160.39. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.91 by $0.14. The firm had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $7.71 billion. Penske Automotive Group had a net margin of 2.85% and a return on equity of 15.13%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $3.66 earnings per share. As a group, analysts predict that Penske Automotive Group will post 13.44 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 annualized dividend and a dividend yield of 3.4%. Penske Automotive Group’s payout ratio is presently 41.79%.

Insider Activity at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction on Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 52.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PAG. Diamant Asset Management Inc. increased its stake in shares of Penske Automotive Group by 14,852.0% in the first quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock worth $132,237,000 after buying an additional 878,496 shares during the period. Bank of Montreal Can increased its stake in shares of Penske Automotive Group by 39,232.7% in the fourth 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 period. Victory Capital Management Inc. increased its stake in shares of Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock worth $241,958,000 after buying an additional 456,611 shares during the period. Norges Bank purchased a new position in shares of Penske Automotive Group in the fourth quarter worth $32,137,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Penske Automotive Group by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock worth $204,761,000 after buying an additional 156,308 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

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.