Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $175.00

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $175.00.

A number of analysts recently weighed in on PAG shares. Bank of America upped their price target on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $160.00 to $155.00 and set an "underweight" rating for the company in a research report on Thursday, July 17th. Wall Street Zen raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Stephens reaffirmed an "equal weight" rating and set a $140.00 price target on shares of Penske Automotive Group in a research report on Wednesday, June 11th. Finally, Citigroup upped their price target on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Monday, May 19th.

Penske Automotive Group Trading Down 1.0%

Shares of NYSE PAG traded down $1.73 during trading on Friday, hitting $173.29. 49,920 shares of the company traded hands, compared to its average volume of 239,526. Penske Automotive Group has a 1 year low of $134.05 and a 1 year high of $186.33. The company has a 50-day moving average price of $170.93 and a 200-day moving average price of $162.73. The firm has a market capitalization of $11.47 billion, a P/E ratio of 12.20 and a beta of 0.91. The company has a quick ratio of 0.23, a current ratio of 0.90 and a debt-to-equity ratio of 0.18.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.12. Penske Automotive Group had a net margin of 3.10% and a return on equity of 17.80%. The company had revenue of $7.60 billion during the quarter, compared to analysts' expectations of $7.68 billion. During the same period in the previous year, the company earned $3.21 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a $1.32 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, August 15th. Penske Automotive Group's dividend payout ratio is presently 35.49%.

Penske Automotive Group declared that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, Director Greg C. Smith sold 1,529 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $161.64, for a total value of $247,147.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shane M. Spradlin sold 3,158 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $167.10, for a total transaction of $527,701.80. Following the completion of the sale, the executive vice president owned 36,152 shares in the company, valued at approximately $6,040,999.20. This trade represents a 8.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,044 shares of company stock valued at $13,257,948 in the last ninety days. Insiders own 52.40% of the company's stock.

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Penske Automotive Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,004,832 shares of the company's stock valued at $288,656,000 after purchasing an additional 5,641 shares in the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Penske Automotive Group by 7.0% in the 1st quarter. Burgundy Asset Management Ltd. now owns 863,529 shares of the company's stock valued at $124,331,000 after purchasing an additional 56,669 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Penske Automotive Group by 3.5% in the 4th quarter. AQR Capital Management LLC now owns 606,709 shares of the company's stock valued at $92,487,000 after purchasing an additional 20,506 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company's stock valued at $54,751,000 after purchasing an additional 84,045 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Penske Automotive Group by 17.4% in the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock valued at $39,560,000 after purchasing an additional 38,388 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

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.