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

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $166.25.

A number of analysts have issued reports on PAG shares. JPMorgan Chase & Co. cut their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday. Stephens reaffirmed an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Benchmark assumed coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th.

Penske Automotive Group Stock Down 2.4 %

Penske Automotive Group stock opened at $140.99 on Friday. The company has a market capitalization of $9.41 billion, a PE ratio of 10.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group has a fifty-two week low of $139.56 and a fifty-two week high of $180.12. The firm has a 50 day moving average price of $162.15 and a 200 day moving average price of $159.34.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s payout ratio is 35.49%.

Insider Activity

In other news, Director John Barr sold 1,529 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in shares of Penske Automotive Group by 296.3% in the 3rd quarter. Victory Capital Management Inc. now owns 14,913 shares of the company’s stock valued at $2,422,000 after purchasing an additional 11,150 shares during the last quarter. CIBC Asset Management Inc increased its position in Penske Automotive Group by 3.7% during the third quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock worth $316,000 after buying an additional 69 shares during the period. Empowered Funds LLC lifted its stake in Penske Automotive Group by 16.9% in the third quarter. Empowered Funds LLC now owns 2,282 shares of the company’s stock valued at $371,000 after buying an additional 330 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Penske Automotive Group in the third quarter valued at approximately $231,000. Finally, Citigroup Inc. boosted its holdings in shares of Penske Automotive Group by 4.1% in the third quarter. Citigroup Inc. now owns 63,548 shares of the company’s stock valued at $10,321,000 after acquiring an additional 2,475 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

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.