Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $170.25.

A number of equities analysts have weighed in on the stock. Stephens began coverage on shares of Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective for the company. Benchmark initiated coverage on Penske Automotive Group in a research note on Thursday. They set a “buy” rating for the company. Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th.

Penske Automotive Group Stock Up 0.1 %

Shares of NYSE PAG traded up $0.22 on Thursday, hitting $163.71. The company had a trading volume of 15,766 shares, compared to its average volume of 181,178. The firm has a market capitalization of $10.93 billion, a P/E ratio of 12.54 and a beta of 1.18. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12-month low of $142.32 and a 12-month high of $179.72. The business has a 50 day moving average of $158.87 and a two-hundred day moving average of $157.46.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.90 EPS. As a group, equities research analysts forecast that Penske Automotive Group will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.91%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s dividend payout ratio (DPR) is presently 36.48%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fifth Third Bancorp raised its stake in shares of Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after buying an additional 91 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Penske Automotive Group in the 2nd quarter valued at about $69,000. True Wealth Design LLC boosted its position in shares of Penske Automotive Group by 14,833.3% during the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after purchasing an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group in the third quarter valued at $94,000. 77.08% of the stock is owned by institutional investors and hedge funds.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.