Penske Automotive Group, Inc. (NYSE:PAG) Stock Has Average Price Target of $211.43 According to Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $211.43.

Several brokerages have recently commented on PAG. UBS Group reaffirmed a “neutral” rating and set a $212.00 price objective on shares of Penske Automotive Group in a research note on Friday, October 16th. Weiss Ratings raised Penske Automotive Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 11th. Barclays reduced their price target on Penske Automotive Group from $225.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Stephens upped their price target on Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Penske Automotive Group from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th.

Penske Automotive Group Stock Performance

Penske Automotive Group stock opened at $212.31 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $13.94 billion, a PE ratio of 15.63 and a beta of 0.92. The firm has a fifty day simple moving average of $211.12 and a two-hundred day simple moving average of $191.66. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $227.00.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.42 by $0.20. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%. The firm had revenue of $8.51 billion during the quarter, compared to analyst estimates of $7.98 billion. During the same quarter in the prior year, the firm posted $3.78 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts expect that Penske Automotive Group will post 13.42 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $1.46 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.44. This represents a $5.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, November 13th. Penske Automotive Group’s dividend payout ratio is presently 42.42%.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Penske Automotive Group in the 2nd quarter worth approximately $35,000. Core Capital Management & Research inc. purchased a new stake in shares of Penske Automotive Group in the 2nd quarter worth approximately $43,000. Parkside Financial Bank & Trust grew its stake in shares of Penske Automotive Group by 57.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock worth $44,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC bought a new position in Penske Automotive Group during the 3rd quarter valued at approximately $44,000. Finally, Versant Capital Management Inc increased its position in Penske Automotive Group by 179.0% during the 2nd quarter. Versant Capital Management Inc now owns 279 shares of the company’s stock valued at $50,000 after buying an additional 179 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.