Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Rating of "Hold" from Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) have received an average rating of "Hold" from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $166.25.

A number of research analysts have weighed in on PAG shares. JPMorgan Chase & Co. cut their target price on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. StockNews.com cut Penske Automotive Group from a "buy" rating to a "hold" rating in a research report on Monday, April 7th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th.

Penske Automotive Group Stock Up 1.4 %

Shares of NYSE PAG traded up $2.05 during mid-day trading on Wednesday, reaching $151.74. 200,691 shares of the company traded hands, compared to its average volume of 194,651. The company's fifty day moving average is $156.13 and its two-hundred day moving average is $158.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group has a fifty-two week low of $134.05 and a fifty-two week high of $180.12. The stock has a market cap of $10.13 billion, a PE ratio of 11.04 and a beta of 1.03.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $7.56 billion. On average, analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $1.22 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.22%. Penske Automotive Group's dividend payout ratio is 35.49%.

Insider Transactions at Penske Automotive Group

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares of the company's stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Penske Automotive Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Penske Automotive Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock worth $304,757,000 after acquiring an additional 12,912 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Penske Automotive Group by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company's stock worth $122,998,000 after purchasing an additional 13,106 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Penske Automotive Group by 3.5% during the 4th quarter. AQR Capital Management LLC now owns 606,709 shares of the company's stock worth $92,487,000 after purchasing an additional 20,506 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 24.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after purchasing an additional 51,720 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Penske Automotive Group by 17.4% during 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 during the last quarter. Institutional investors 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.