ValuEngine cut shares of Penske Automotive Group, Inc. (NYSE:PAG) from a strong-buy rating to a buy rating in a research note released on Friday.

PAG has been the topic of a number of other research reports. Morgan Stanley decreased their target price on Penske Automotive Group from $54.00 to $50.00 and set an overweight rating on the stock in a research report on Friday, June 9th. BidaskClub upgraded Penske Automotive Group from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Gabelli upgraded Penske Automotive Group from a hold rating to a buy rating and set a $68.00 target price on the stock in a research report on Thursday, April 27th. Zacks Investment Research upgraded Penske Automotive Group from a hold rating to a buy rating and set a $50.00 target price on the stock in a research report on Tuesday, April 11th. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $46.00 target price (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Penske Automotive Group has an average rating of Hold and a consensus target price of $52.67.

Penske Automotive Group (NYSE PAG) opened at 43.54 on Friday. The firm has a market cap of $3.75 billion, a P/E ratio of 10.38 and a beta of 1.49. Penske Automotive Group has a 12 month low of $37.25 and a 12 month high of $56.05. The company’s 50-day moving average is $43.43 and its 200 day moving average is $46.79.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.07. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The firm had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter in the previous year, the business posted $1.11 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that Penske Automotive Group will post $4.30 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, August 8th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.59%.

In other news, EVP Shane M. Spradlin sold 1,900 shares of Penske Automotive Group stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $43.64, for a total transaction of $82,916.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Robert H. Kurnick, Jr. sold 11,172 shares of Penske Automotive Group stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $42.48, for a total value of $474,586.56. Following the sale, the president now directly owns 89,405 shares in the company, valued at $3,797,924.40. The disclosure for this sale can be found here. Company insiders own 40.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Penske Automotive Group by 2.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 82,061 shares of the company’s stock worth $3,603,000 after buying an additional 1,792 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Penske Automotive Group by 0.6% in the second quarter. IFP Advisors Inc now owns 18,404 shares of the company’s stock worth $808,000 after buying an additional 109 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Penske Automotive Group by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 24,585 shares of the company’s stock worth $1,080,000 after buying an additional 135 shares during the last quarter. Sei Investments Co. raised its stake in shares of Penske Automotive Group by 46.7% in the second quarter. Sei Investments Co. now owns 17,557 shares of the company’s stock worth $771,000 after buying an additional 5,585 shares during the last quarter. Finally, Markel Corp raised its stake in shares of Penske Automotive Group by 26.5% in the second quarter. Markel Corp now owns 62,000 shares of the company’s stock worth $2,722,000 after buying an additional 13,000 shares during the last quarter. 39.00% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Company Profile

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

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Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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