Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Recommendation of “Hold” from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $172.50.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research report on Wednesday, February 19th. StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday. Stephens restated 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. Finally, Benchmark started coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock.

Penske Automotive Group Trading Up 0.8 %

NYSE:PAG opened at $164.83 on Tuesday. The company has a market cap of $11.01 billion, a PE ratio of 11.99 and a beta of 1.20. The business’s 50 day moving average is $161.05 and its two-hundred day moving average is $160.54. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $180.12.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. On average, analysts predict that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.96%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio is 35.49%.

Insider Buying and Selling 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 shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now 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 filing with the SEC, which is available at this hyperlink. 51.70% of the stock is owned by company insiders.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently made changes to their positions in PAG. GAMMA Investing LLC raised its holdings in Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Penske Automotive Group in the 4th quarter worth $40,000. True Wealth Design LLC lifted its holdings in shares of Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after buying an additional 445 shares during the period. Transamerica Financial Advisors Inc. boosted its stake in Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Penske Automotive Group during the fourth quarter valued at about $76,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.