Penske Automotive Group, Inc. (NYSE:PAG) Stock Has Consensus Target Price of $211.14

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $211.14.

Several equities research analysts have recently issued reports on the stock. UBS Group set a $190.00 target price on shares of Penske Automotive Group in a research note on Friday, July 10th. Barclays lifted their price target on Penske Automotive Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Citigroup cut Penske Automotive Group from a “buy” rating to a “neutral” rating and upped their price target for the stock from $199.00 to $210.00 in a report on Thursday, July 23rd. Weiss Ratings raised Penske Automotive Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 11th. Finally, Bank of America boosted their price objective on Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research report on Thursday, July 9th.

Penske Automotive Group Stock Performance

PAG opened at $201.89 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. The firm has a fifty day moving average price of $216.16 and a 200 day moving average price of $184.75. Penske Automotive Group has a 1 year low of $140.12 and a 1 year high of $227.00. The stock has a market cap of $13.26 billion, a P/E ratio of 14.87 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same quarter last year, the business earned $3.78 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Penske Automotive Group will post 13.66 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $1.44 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $5.76 dividend on an annualized basis and a yield of 2.9%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. Penske Automotive Group’s dividend payout ratio is 42.42%.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAG. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Penske Automotive Group during the second quarter valued at $35,000. Core Capital Management & Research inc. purchased a new stake in shares of Penske Automotive Group during the second quarter worth about $43,000. Rothschild Investment LLC increased its stake 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 in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Penske Automotive Group by 57.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock worth $44,000 after purchasing an additional 89 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Penske Automotive Group by 179.0% during the 2nd quarter. Versant Capital Management Inc now owns 279 shares of the company’s stock worth $50,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other 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. The company sells new and used cars, trucks and other vehicles, representing a broad range of manufacturers and brands.

Its retail automotive operations also provide vehicle financing and insurance products, maintenance and repair services, replacement parts, collision repair, and other related services. Through its commercial vehicle operations, Penske Automotive Group serves businesses and fleet customers with heavy- and medium-duty trucks, parts and service support, and related transportation solutions.

The company serves customers primarily in the United States, the United Kingdom, Germany, Italy and Japan.