Penske Automotive Group Inc. (PAG) Receives Average Rating of “Hold” from Brokerages
Penske Automotive Group Inc. (NYSE:PAG) has earned an average recommendation of “Hold” from the eight brokerages that are covering the firm. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.00.
A number of equities analysts have recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of Penske Automotive Group in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Stifel Nicolaus cut shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. Gabelli cut shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 15th. Evercore ISI cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating and set a $39.00 price objective on the stock. in a research report on Thursday, October 13th. Finally, Zacks Investment Research lowered shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, October 3rd.
In other news, major shareholder Corp Penske acquired 478,000 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $44.21 per share, for a total transaction of $21,132,380.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shane M. Spradlin sold 4,900 shares of the stock in a transaction dated 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. 37.20% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. GW&K Investment Management LLC raised its stake in Penske Automotive Group by 18.4% in the second quarter. GW&K Investment Management LLC now owns 257,472 shares of the company’s stock valued at $8,100,000 after buying an additional 40,086 shares during the period. American Century Companies Inc. raised its stake in shares of Penske Automotive Group by 8.3% in the second quarter. American Century Companies Inc. now owns 447,024 shares of the company’s stock valued at $14,063,000 after buying an additional 34,111 shares during the last quarter. Strs Ohio raised its stake in shares of Penske Automotive Group by 172.7% in the second quarter. Strs Ohio now owns 150,000 shares of the company’s stock valued at $4,719,000 after buying an additional 95,000 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of Penske Automotive Group during the second quarter valued at about $753,000. Finally, CrestPoint Capital Management LLC raised its stake in shares of Penske Automotive Group by 0.6% in the second quarter. CrestPoint Capital Management LLC now owns 17,500 shares of the company’s stock valued at $551,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 41.00% of the company’s stock.
Penske Automotive Group (NYSE:PAG) traded down 0.86% during trading on Friday, reaching $48.23. The company had a trading volume of 208,050 shares. Penske Automotive Group has a one year low of $29.29 and a one year high of $50.63. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.68 and a beta of 1.41. The company has a 50-day moving average price of $46.01 and a 200 day moving average price of $41.11.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Penske Automotive Group had a net margin of 1.64% and a return on equity of 18.88%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. Analysts expect that Penske Automotive Group will post $3.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Tuesday, November 8th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.28. Penske Automotive Group’s dividend payout ratio is currently 30.45%.
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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