Penske Automotive Group (NYSE:PAG) Upgraded 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 note published on Monday.

A number of other research analysts have also recently weighed in on PAG. Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th. Benchmark started coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Stock Up 0.8 %

PAG opened at $164.83 on Monday. The business has a 50 day simple moving average of $161.05 and a 200-day simple moving average of $160.54. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $180.12. The stock has a market capitalization of $11.01 billion, a P/E ratio of 11.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping the consensus estimate 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%. On average, equities analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders 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%. 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. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Transactions at Penske Automotive Group

In other news, EVP Claude H. Denker III sold 8,746 shares of the firm’s 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 transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 51.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group during the 4th quarter valued at $40,000. True Wealth Design LLC boosted its stake in Penske Automotive Group by 14,833.3% during 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 in the last quarter. Transamerica Financial Advisors Inc. boosted its position in shares of Penske Automotive Group by 45,300.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Penske Automotive Group in the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.