Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $168.20

Penske Automotive Group, Inc. (NYSE:PAG) has received a consensus rating of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $163.20.

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Bank of America upped their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th.

Insider Transactions at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,604 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the transaction, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the transaction, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Barr sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the completion of the transaction, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

A number of large investors have recently bought and sold shares of PAG. Moneta Group Investment Advisors LLC bought a new position in Penske Automotive Group in the fourth quarter worth about $260,702,000. Envestnet Asset Management Inc. increased its stake in shares of Penske Automotive Group by 3,459.1% in the first quarter. Envestnet Asset Management Inc. now owns 618,926 shares of the company’s stock valued at $1,783,000 after purchasing an additional 601,536 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Penske Automotive Group by 491.7% in the first quarter. Balyasny Asset Management L.P. now owns 348,863 shares of the company’s stock valued at $49,472,000 after purchasing an additional 289,902 shares during the period. Norges Bank acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at approximately $25,163,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Penske Automotive Group by 2,465.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 205,296 shares of the company’s stock valued at $21,492,000 after purchasing an additional 197,293 shares during the period. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 0.3 %

Shares of NYSE PAG opened at $150.01 on Wednesday. Penske Automotive Group has a 52-week low of $133.72 and a 52-week high of $180.84. The firm has a fifty day moving average of $153.18 and a 200-day moving average of $153.32. The stock has a market capitalization of $10.06 billion, a PE ratio of 9.69 and a beta of 1.19. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.18 billion. During the same period last year, the company posted $4.21 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that Penske Automotive Group will post 13.83 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a dividend of $0.87 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.79. The ex-dividend date was Wednesday, February 14th. This represents a $3.48 annualized dividend and a dividend yield of 2.32%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 22.48%.

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.