Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $183.7143.

A number of equities analysts recently commented on PAG shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Barclays dropped their price target on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price objective on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Bank of America initiated coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st.

Penske Automotive Group Price Performance

PAG opened at $171.44 on Tuesday. The stock has a fifty day moving average price of $164.40 and a 200 day moving average price of $168.97. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. Penske Automotive Group has a 1 year low of $134.05 and a 1 year high of $189.51. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.78 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.28). The firm had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.62 billion. Penske Automotive Group had a return on equity of 15.77% and a net margin of 2.91%.The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business earned $3.54 earnings per share. Analysts forecast that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Wednesday, February 25th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. Penske Automotive Group’s dividend payout ratio (DPR) is 40.89%.

Insiders Place Their Bets

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer owned 16,822 shares in the company, valued at $2,694,379.74. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 52.40% of the company’s stock.

Institutional Trading of Penske Automotive Group

Large investors have recently modified their holdings of the company. Navalign LLC bought a new position in Penske Automotive Group in the 4th quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $30,000. Rothschild Investment LLC increased its stake in shares of Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after purchasing an additional 159 shares during the period. Root Financial Partners LLC bought a new position in shares of Penske Automotive Group in the third quarter worth about $33,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Penske Automotive Group during the 1st quarter worth about $42,000. 77.08% of the stock is owned by 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.