Penske Automotive Group, Inc. (NYSE:PAG) Receives $172.50 Average PT from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has received an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $172.50.

A number of research analysts have commented on PAG shares. Stephens reiterated 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. JPMorgan Chase & Co. upped their target price on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction on Friday, February 14th. The stock was 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 owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

A number of large investors have recently modified their holdings of the company. Burgundy Asset Management Ltd. boosted its stake in Penske Automotive Group by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock valued at $122,998,000 after purchasing an additional 13,106 shares during the period. CSS LLC IL raised its holdings in shares of Penske Automotive Group by 42.9% during the fourth quarter. CSS LLC IL now owns 2,650 shares of the company’s stock valued at $404,000 after buying an additional 796 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Penske Automotive Group by 14.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company’s stock valued at $10,028,000 after buying an additional 8,438 shares during the last quarter. Voloridge Investment Management LLC boosted its position in shares of Penske Automotive Group by 4.4% during the fourth quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company’s stock worth $20,430,000 after buying an additional 5,669 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Penske Automotive Group by 4.7% in the 4th quarter. Squarepoint Ops LLC now owns 19,643 shares of the company’s stock worth $2,994,000 after buying an additional 873 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 3.3 %

NYSE:PAG opened at $154.31 on Friday. Penske Automotive Group has a one year low of $142.32 and a one year high of $180.12. The business’s 50-day simple moving average is $163.07 and its 200 day simple moving average is $159.64. 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 stock has a market cap of $10.30 billion, a price-to-earnings ratio of 11.22 and a beta of 1.24.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. As a group, sell-side analysts predict that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $1.22 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

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.