Penske Automotive Group (NYSE:PAG) PT Raised to $180.00

Penske Automotive Group (NYSE:PAG - Free Report) had its price objective boosted by Bank of America from $175.00 to $180.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Morgan Stanley upped their price target on shares of Penske Automotive Group from $107.00 to $115.00 and gave the stock an underweight rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $163.20.

Penske Automotive Group Trading Down 2.7 %

Shares of NYSE:PAG traded down $4.14 during trading on Wednesday, reaching $150.28. The stock had a trading volume of 280,154 shares, compared to its average volume of 191,273. The business has a fifty day moving average price of $153.27 and a 200-day moving average price of $153.57. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock has a market cap of $10.08 billion, a P/E ratio of 9.71 and a beta of 1.19. Penske Automotive Group has a fifty-two week low of $133.72 and a fifty-two week high of $180.84.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 EPS for the quarter, missing the consensus estimate of $3.66 by ($0.21). Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same period last year, the company posted $4.21 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts anticipate that Penske Automotive Group will post 13.83 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, February 14th. This is an increase from Penske Automotive Group's previous quarterly dividend of $0.79. Penske Automotive Group's dividend payout ratio (DPR) is currently 22.48%.

Insider Activity

In other news, Director Greg C. Smith sold 1,604 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total value of $239,605.52. Following the transaction, the director now owns 51,001 shares of the company's stock, valued at approximately $7,618,529.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Greg C. Smith sold 1,604 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $149.38, for a total transaction of $239,605.52. Following the completion of the sale, the director now directly owns 51,001 shares of the company's stock, valued at approximately $7,618,529.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Barr sold 1,600 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total transaction of $246,480.00. Following the sale, the director now directly owns 716 shares of the company's stock, valued at $110,299.80. The disclosure for this sale can be found here. Insiders own 52.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new position in Penske Automotive Group during the 3rd quarter worth $1,257,000. Tudor Investment Corp Et Al lifted its position in shares of Penske Automotive Group by 29.9% in the 3rd quarter. Tudor Investment Corp Et Al now owns 69,253 shares of the company's stock worth $11,569,000 after buying an additional 15,946 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Penske Automotive Group by 306.3% in the 3rd quarter. Hsbc Holdings PLC now owns 25,785 shares of the company's stock worth $4,331,000 after buying an additional 19,438 shares during the last quarter. Invesco Ltd. lifted its position in shares of Penske Automotive Group by 164.3% in the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company's stock worth $48,908,000 after buying an additional 181,995 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Penske Automotive Group by 47.4% in the 3rd quarter. Northern Trust Corp now owns 136,995 shares of the company's stock worth $22,886,000 after buying an additional 44,044 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

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.