Penske Automotive Group, Inc. (NYSE:PAG - Free Report) - Zacks Research lifted their FY2027 earnings per share estimates for shares of Penske Automotive Group in a research report issued to clients and investors on Wednesday, August 13th. Zacks Research analyst L. Sahu now forecasts that the company will post earnings of $15.13 per share for the year, up from their prior estimate of $15.06. The consensus estimate for Penske Automotive Group's current full-year earnings is $13.86 per share.
A number of other research analysts also recently weighed in on PAG. Morgan Stanley reiterated an "overweight" rating and set a $190.00 price target (up previously from $180.00) on shares of Penske Automotive Group in a report on Thursday. Citigroup lifted their price target on Penske Automotive Group from $185.00 to $195.00 and gave the company a "buy" rating in a report on Monday, May 19th. Bank of America boosted their target price on Penske Automotive Group from $190.00 to $205.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wall Street Zen upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded Penske Automotive Group from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $155.00 to $175.00 in a research note on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Penske Automotive Group has an average rating of "Moderate Buy" and an average price target of $181.00.
Read Our Latest Stock Report on Penske Automotive Group
Penske Automotive Group Stock Down 0.6%
Shares of PAG stock traded down $1.06 on Friday, reaching $180.69. 27,581 shares of the company's stock traded hands, compared to its average volume of 240,484. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $186.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.21 and a current ratio of 0.90. The company has a market capitalization of $11.93 billion, a P/E ratio of 12.57 and a beta of 0.87. The business's 50 day moving average price is $174.05 and its two-hundred day moving average price is $164.14.
Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.56 by $0.22. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a return on equity of 17.43% and a net margin of 3.13%. Penske Automotive Group's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.61 earnings per share.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Penske Automotive Group by 9.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,367 shares of the company's stock valued at $485,000 after buying an additional 295 shares during the last quarter. Two Sigma Investments LP boosted its position in Penske Automotive Group by 21.0% in the 4th quarter. Two Sigma Investments LP now owns 10,253 shares of the company's stock valued at $1,563,000 after buying an additional 1,777 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Penske Automotive Group by 15.8% in the 1st quarter. Teacher Retirement System of Texas now owns 12,006 shares of the company's stock valued at $1,729,000 after buying an additional 1,639 shares during the last quarter. KBC Group NV boosted its position in Penske Automotive Group by 33.4% in the 1st quarter. KBC Group NV now owns 999 shares of the company's stock valued at $144,000 after buying an additional 250 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Penske Automotive Group in the 1st quarter valued at $648,000. 77.08% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Penske Automotive Group
In related news, Director Greg C. Smith sold 1,529 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $161.64, for a total transaction of $247,147.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Roger S. Penske sold 77,357 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $161.37, for a total value of $12,483,099.09. Following the sale, the chief executive officer directly owned 140,042 shares of the company's stock, valued at $22,598,577.54. This represents a 35.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,044 shares of company stock valued at $13,257,948. 51.70% of the stock is currently owned by company insiders.
Penske Automotive Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, August 15th. 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 dividend yield of 2.9%. Penske Automotive Group's dividend payout ratio (DPR) is 36.74%.
Penske Automotive Group declared that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.
About Penske Automotive Group
(
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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.
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