Penske Automotive Group, Inc. (PAG) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is broadly neutral: Penske Automotive has a consensus “Hold” rating from 10 brokerages—six holds and four buys—with an average 12-month price target of $214.86.
• Quarterly results were mixed: EPS of $3.36 slightly missed estimates, while revenue of $8.42 billion beat forecasts and rose 4.5% year over year.
• The company raised its quarterly dividend from $1.44 to $1.46 per share, equivalent to an annualized yield of about 2.7%.

Shares of Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) have earned a consensus rating of "Hold" from the ten brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $214.86.

Several equities research analysts recently commented on PAG shares. JPMorgan Chase & Co. dropped their target price on Penske Automotive Group from $215.00 to $210.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Barclays upped their price target on Penske Automotive Group from $210.00 to $212.00 and gave the stock an "overweight" rating in a report on Tuesday, November 3rd. Benchmark downgraded shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. UBS Group reiterated a "neutral" rating and set a $212.00 price objective on shares of Penske Automotive Group in a research note on Friday, October 16th. Finally, Weiss Ratings cut shares of Penske Automotive Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, November 2nd.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Penske Automotive Group in the 2nd quarter valued at about $417,516,000. Dimensional Fund Advisors LP increased its position in shares of Penske Automotive Group by 11.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company's stock worth $216,489,000 after acquiring an additional 154,443 shares during the last quarter. Bank of America Corp DE increased its position in shares of Penske Automotive Group by 4.5% during the first quarter. Bank of America Corp DE now owns 463,784 shares of the company's stock worth $69,345,000 after acquiring an additional 19,850 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 388,977 shares of the company's stock worth $58,160,000 after acquiring an additional 13,210 shares during the last quarter. Finally, Bahl & Gaynor LLC lifted its stake in shares of Penske Automotive Group by 4.4% in the third quarter. Bahl & Gaynor LLC now owns 276,550 shares of the company's stock worth $55,404,000 after acquiring an additional 11,751 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company's stock.

Penske Automotive Group Trading Up 0.3%

NYSE:PAG opened at $214.13 on Thursday. The business's 50-day moving average is $209.83 and its two-hundred day moving average is $184.72. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.98 and a quick ratio of 0.21. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $227.00. The firm has a market capitalization of $14.06 billion, a PE ratio of 15.62 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $3.36 EPS for the quarter, missing analysts' consensus estimates of $3.37 by ($0.01). Penske Automotive Group had a return on equity of 14.82% and a net margin of 2.77%. The company had revenue of $8.42 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts predict that Penske Automotive Group will post 13.39 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $1.46 per share. This represents a $5.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.44. Penske Automotive Group's dividend payout ratio (DPR) is 42.01%.

Penske Automotive Group Company Profile

Penske Automotive Group is an international automotive and commercial vehicle retailer. The company operates franchised dealerships that sell new and used vehicles, along with parts and maintenance, repair, financing and insurance services. Its automotive dealerships represent a range of manufacturers, with a focus on premium and luxury brands. Penske also operates commercial truck dealerships, which sell new and used trucks and provide parts and service to business customers. Founded by Roger Penske, the company serves customers primarily in the United States and also has operations in several international markets, including the United Kingdom, Germany, Italy, Australia and Japan.

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