Penske Automotive Group (NYSE:PAG) Upgraded by UBS Group to “Hold” Rating

UBS Group upgraded shares of Penske Automotive Group (NYSE:PAG) to a hold rating in a research report report published on Wednesday,Zacks.com reports.

PAG has been the topic of a number of other research reports. Stephens increased their price target on Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Barclays reduced their price target on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Citigroup increased their price target 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, Morgan Stanley reissued an “overweight” rating and set a $190.00 price target on shares of Penske Automotive Group in a research report on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.63.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $168.39 on Wednesday. The firm has a market cap of $11.07 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 2.19 and a beta of 0.90. 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 has a 1-year low of $140.12 and a 1-year high of $189.51. The business’s 50 day moving average is $158.47 and its 200-day moving average is $160.61.

Penske Automotive Group (NYSE:PAG) last announced 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. The company had revenue of $7.86 billion for the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.66 earnings per share. Equities research analysts predict that Penske Automotive Group will post 13.44 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 26th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. Penske Automotive Group’s dividend payout ratio (DPR) is 42.39%.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director Greg C. Smith sold 1,488 shares of the firm’s stock in a transaction 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 SEC, which is available at this link. Corporate insiders own 52.90% of the company’s stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of large investors have recently modified their holdings of PAG. Diamant Asset Management Inc. boosted its holdings in shares of Penske Automotive Group by 14,852.0% in the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after purchasing an additional 878,496 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Penske Automotive Group by 39,232.7% in the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock valued at $136,660,000 after purchasing an additional 861,157 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Penske Automotive Group by 48.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after purchasing an additional 456,611 shares in the last quarter. Norges Bank acquired a new stake in shares of Penske Automotive Group in the 4th quarter valued at $32,137,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Penske Automotive Group by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock valued at $204,761,000 after purchasing an additional 156,308 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.