Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $202.25

Penske Automotive Group, Inc. (NYSE:PAG) has received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $207.8750.

A number of research analysts have commented on PAG shares. Stephens raised their price target on shares of Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Bank of America upped their price objective on Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings raised Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $170.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Morgan Stanley restated an “overweight” rating and set a $190.00 target price on shares of Penske Automotive Group in a research report on Thursday, May 7th.

Insiders Place Their Bets

In other news, Director Greg C. Smith sold 1,488 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michelle Hulgrave sold 1,500 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the sale, the chief financial officer owned 17,596 shares of the company’s stock, valued at $3,022,992.80. This trade represents a 7.86% decrease in their position. The SEC filing for this sale provides additional information. 52.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAG. Goldman Sachs Group Inc. increased its holdings in shares of Penske Automotive Group by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after buying an additional 84,045 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Penske Automotive Group by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock worth $9,918,000 after acquiring an additional 3,100 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Penske Automotive Group during the 1st quarter worth approximately $42,000. EverSource Wealth Advisors LLC grew its position in Penske Automotive Group by 506.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock worth $151,000 after acquiring an additional 735 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Penske Automotive Group by 47.0% during the 2nd quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock worth $534,000 after acquiring an additional 994 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Trading Down 0.0%

Shares of PAG stock opened at $216.31 on Tuesday. Penske Automotive Group has a 52-week low of $140.12 and a 52-week high of $227.00. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 2.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.21 and a current ratio of 0.98. The firm has a fifty day moving average of $192.55 and a 200-day moving average of $171.13.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.42 by $0.20. The business had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.78 EPS. On average, equities research analysts forecast that Penske Automotive Group will post 13.58 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $1.44 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. This represents a $5.76 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, August 14th. Penske Automotive Group’s dividend payout ratio is currently 41.83%.

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.