Penske Automotive Group (NYSE:PAG) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Penske Automotive Group (NYSE:PAG) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other equities analysts have also commented on PAG. JPMorgan Chase & Co. increased their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. Benchmark began coverage on Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. Finally, Stephens reiterated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.50.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $167.43 on Monday. The firm has a market capitalization of $11.18 billion, a P/E ratio of 12.18 and a beta of 1.20. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $161.39 and its two-hundred day simple moving average is $160.63. Penske Automotive Group has a twelve month low of $142.32 and a twelve month high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, equities analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 2.91%. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Activity at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 51.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Penske Automotive Group

Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in Penske Automotive Group by 36.9% during the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after acquiring an additional 10,663 shares during the period. Highland Capital Management LLC purchased a new stake in Penske Automotive Group in the 4th quarter worth approximately $240,000. Cerity Partners LLC lifted its holdings in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after buying an additional 8,504 shares during the period. Blue Trust Inc. lifted its holdings in Penske Automotive Group by 28.3% in the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after buying an additional 269 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Penske Automotive Group by 188.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock worth $1,134,000 after buying an additional 4,559 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.