Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $170.25

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat.com 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 12 month target price among brokerages that have covered the stock in the last year is $170.25.

A number of brokerages have weighed in on PAG. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research report on Tuesday, September 10th. Stephens began coverage on Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 target price on the stock. Finally, Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Penske Automotive Group by 31.1% during the 2nd quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock worth $62,280,000 after acquiring an additional 99,164 shares during the period. International Assets Investment Management LLC increased its stake in shares of Penske Automotive Group by 12,674.5% in the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock worth $9,606,000 after purchasing an additional 58,683 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Penske Automotive Group by 720.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company’s stock valued at $3,546,000 after purchasing an additional 20,896 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Penske Automotive Group by 88.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 32,210 shares of the company’s stock valued at $4,800,000 after buying an additional 15,151 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its holdings in Penske Automotive Group by 1.8% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 777,574 shares of the company’s stock worth $115,874,000 after buying an additional 13,968 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $164.27 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 12.59 and a beta of 1.18. The business has a 50-day simple moving average of $159.34 and a two-hundred day simple moving average of $157.80. Penske Automotive Group has a fifty-two week low of $142.32 and a fifty-two week high of $179.72.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02). The company had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.90 earnings per share. On average, analysts expect that Penske Automotive Group will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $1.19 per share. The ex-dividend date was Friday, November 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a yield of 2.90%. Penske Automotive Group’s payout ratio is 36.48%.

About Penske Automotive Group

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.