Analysts Set Penske Automotive Group, Inc. (NYSE:PAG) Price Target at $162.75

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $162.40.

A number of equities research analysts have commented on PAG shares. JPMorgan Chase & Co. lifted their target price 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. Bank of America upped their target price on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Stephens started coverage on Penske Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price for the company.

Penske Automotive Group Stock Up 2.5 %

Shares of PAG opened at $156.07 on Thursday. The business’s 50 day moving average is $160.83 and its 200 day moving average is $155.38. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. Penske Automotive Group has a 12-month low of $137.95 and a 12-month high of $179.72. The company has a market capitalization of $10.44 billion, a PE ratio of 10.85 and a beta of 1.16.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a return on equity of 19.82% and a net margin of 3.05%. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter in the prior year, the company earned $4.41 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Research analysts expect that Penske Automotive Group will post 13.79 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a dividend yield of 2.74%. Penske Automotive Group’s payout ratio is currently 29.76%.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 716 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 51.70% of the stock is currently owned by insiders.

Institutional Trading of Penske Automotive Group

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp increased its holdings in shares of Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after purchasing an additional 91 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Penske Automotive Group during the second quarter worth $69,000. WFA Asset Management Corp purchased a new stake in shares of Penske Automotive Group during the first quarter worth $84,000. Blue Trust Inc. lifted its position in shares of Penske Automotive Group by 17.5% during the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock worth $123,000 after purchasing an additional 113 shares during the last quarter. Finally, NDVR Inc. acquired a new position in shares of Penske Automotive Group in the 4th quarter valued at $203,000. 77.08% of the stock is 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.