Penske Automotive Group, Inc. (NYSE:PAG) Receives $188.00 Average PT from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $194.6250.

PAG has been the subject of a number of recent analyst reports. Stephens boosted their price target on shares of Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. UBS Group set a $190.00 price objective on Penske Automotive Group in a research note on Friday, July 10th. Citigroup boosted their target price on Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 7th.

Penske Automotive Group Price Performance

PAG stock opened at $204.78 on Friday. The firm has a 50 day moving average of $176.22 and a 200-day moving average of $164.98. The firm has a market capitalization of $13.46 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 2.59 and a beta of 0.87. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $207.22. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39.

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

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.8%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, May 26th. Penske Automotive Group’s dividend payout ratio (DPR) is currently 42.39%.

Insider Buying and Selling

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the transaction, the chief financial officer owned 17,596 shares of the company’s stock, valued at $3,022,992.80. The trade was a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg C. Smith sold 1,488 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total transaction of $238,109.76. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 52.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of Penske Automotive Group by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock valued at $234,914,000 after buying an additional 92,794 shares during the period. Dimensional Fund Advisors LP boosted its position in Penske Automotive Group by 11.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock valued at $216,489,000 after acquiring an additional 154,443 shares in the last quarter. Diamant Asset Management Inc. boosted its position in Penske Automotive Group by 14,852.0% during the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after acquiring an additional 878,496 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Penske Automotive Group by 39,232.7% during the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock worth $136,660,000 after acquiring an additional 861,157 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Penske Automotive Group by 6.6% during the 3rd quarter. AQR Capital Management LLC now owns 726,490 shares of the company’s stock worth $125,043,000 after acquiring an additional 44,749 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.