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

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $190.8750.

Several research analysts have commented on PAG shares. Morgan Stanley reiterated an “overweight” rating and set a $190.00 price target on shares of Penske Automotive Group in a report on Thursday, May 7th. Citigroup lifted their price objective on shares of Penske Automotive Group from $193.00 to $199.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Bank of America boosted their target price on shares of Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PAG. Navalign LLC purchased a new stake in Penske Automotive Group in the fourth quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in shares of Penske Automotive Group during the fourth quarter worth about $30,000. Rothschild Investment LLC grew its holdings in shares of Penske Automotive Group by 37.5% during the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after purchasing an additional 66 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Penske Automotive Group during the first quarter worth about $42,000. Finally, Versant Capital Management Inc increased its position in shares of Penske Automotive Group by 179.0% during the second quarter. Versant Capital Management Inc now owns 279 shares of the company’s stock worth $50,000 after purchasing an additional 179 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Trading Up 0.3%

Shares of PAG stock opened at $193.77 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.22. The firm has a market cap of $12.74 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. The company has a 50-day moving average of $174.95 and a two-hundred day moving average of $164.46. Penske Automotive Group has a 1-year low of $140.12 and a 1-year high of $197.69.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period last year, the business posted $3.66 EPS. Penske Automotive Group’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Penske Automotive Group will post 13.45 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 26th were paid a dividend of $1.42 per share. The ex-dividend date was Tuesday, May 26th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. This represents a $5.68 annualized dividend and a yield of 2.9%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 42.39%.

About Penske Automotive Group

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.