Penske Automotive Group (NYSE:PAG) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Penske Automotive Group (NYSE:PAG – Get Rating) in a report issued on Thursday morning. The brokerage issued a buy rating on the stock.

Several other research analysts also recently commented on PAG. Morgan Stanley decreased their target price on shares of Penske Automotive Group from $93.00 to $88.00 and set an underweight rating on the stock in a research note on Tuesday, January 17th. JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $130.00 to $135.00 and gave the stock a neutral rating in a research note on Tuesday, February 21st. Finally, Stephens lifted their target price on shares of Penske Automotive Group from $140.00 to $155.00 in a research note on Thursday, February 9th.

Penske Automotive Group Trading Down 3.7 %

PAG stock opened at $130.09 on Thursday. The company has a market capitalization of $8.99 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 5.85 and a beta of 1.23. Penske Automotive Group has a one year low of $90.23 and a one year high of $155.36. The company’s 50 day moving average price is $134.21 and its two-hundred day moving average price is $120.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.99.

Penske Automotive Group (NYSE:PAG – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $4.21 EPS for the quarter, topping the consensus estimate of $4.03 by $0.18. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.47 billion. Penske Automotive Group had a net margin of 4.96% and a return on equity of 33.16%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $4.10 earnings per share. As a group, analysts predict that Penske Automotive Group will post 15.18 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were given a dividend of $0.61 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Thursday, February 9th. Penske Automotive Group’s payout ratio is presently 13.18%.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $145.31, for a total transaction of $290,620.00. Following the transaction, the director now directly owns 3,712 shares of the company’s stock, valued at approximately $539,390.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAG. Lazard Asset Management LLC boosted its holdings in shares of Penske Automotive Group by 153.4% during the 2nd quarter. Lazard Asset Management LLC now owns 299 shares of the company’s stock valued at $31,000 after buying an additional 181 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Penske Automotive Group during the 3rd quarter valued at $32,000. Gradient Investments LLC bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at $32,000. Huntington National Bank boosted its holdings in shares of Penske Automotive Group by 16,800.0% during the 3rd quarter. Huntington National Bank now owns 338 shares of the company’s stock valued at $33,000 after buying an additional 336 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in shares of Penske Automotive Group by 74.2% during the 3rd quarter. Hanseatic Management Services Inc. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 175 shares in the last quarter. 32.66% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

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Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related parts and services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.