Penske Automotive Group, Inc. (NYSE:PAG) Receives $165.00 Average PT from Brokerages

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $165.00.

Several analysts recently issued reports on PAG shares. JPMorgan Chase & Co. lowered their price target on Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Citigroup initiated coverage on Penske Automotive Group in a research report on Wednesday, April 23rd. They set a "buy" rating and a $185.00 price target on the stock. Finally, Stephens restated an "equal weight" rating and issued a $140.00 price target on shares of Penske Automotive Group in a report on Monday, May 5th.

Insider Activity at Penske Automotive Group

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

Hedge Funds Weigh In On Penske Automotive Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Penske Automotive Group in the 4th quarter worth approximately $22,049,000. Moran Wealth Management LLC acquired a new stake in Penske Automotive Group in the fourth quarter worth approximately $14,157,000. Nuveen LLC acquired a new stake in Penske Automotive Group in the first quarter worth approximately $10,004,000. GAMMA Investing LLC boosted its stake in Penske Automotive Group by 21,771.8% during the 1st quarter. GAMMA Investing LLC now owns 57,304 shares of the company's stock valued at $8,251,000 after purchasing an additional 57,042 shares in the last quarter. Finally, 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 valued at $40,179,000 after purchasing an additional 51,720 shares during the period. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Price Performance

Penske Automotive Group stock traded up $6.20 during trading hours on Friday, hitting $165.48. The stock had a trading volume of 218,783 shares, compared to its average volume of 195,495. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 12.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group has a 1-year low of $134.05 and a 1-year high of $180.12. The stock's fifty day moving average is $152.51 and its two-hundred day moving average is $158.38.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $0.12. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The company had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.68 billion. During the same period in the prior year, the firm earned $3.21 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 2.95%. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. Penske Automotive Group's dividend payout ratio is 34.37%.

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.