Penske Automotive Group (NYSE:PAG) Sets New 52-Week High at $179.72

Penske Automotive Group, Inc. (NYSE:PAG) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $179.72 and last traded at $178.59, with a volume of 229171 shares changing hands. The stock had previously closed at $164.88.

Wall Street Analysts Forecast Growth

Separately, Bank of America lifted their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $157.75.

Penske Automotive Group Stock Performance

The firm’s 50 day moving average is $151.35 and its 200 day moving average is $152.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.23 and a current ratio of 0.98. The stock has a market cap of $11.64 billion, a P/E ratio of 12.21 and a beta of 1.18.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.52 billion. Penske Automotive Group had a return on equity of 21.72% and a net margin of 3.27%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.31 earnings per share. Analysts anticipate that Penske Automotive Group, Inc. will post 13.37 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 2.46%. Penske Automotive Group’s dividend payout ratio (DPR) is 26.70%.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently bought and sold shares of PAG. Fifth Third Bancorp increased its holdings in shares of Penske Automotive Group by 32.2% in the second quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after purchasing an additional 91 shares during the period. Blue Trust Inc. increased its holdings in Penske Automotive Group by 91.2% in the 4th quarter. Blue Trust Inc. now owns 346 shares of the company’s stock worth $58,000 after buying an additional 165 shares during the period. Gradient Investments LLC lifted its stake in Penske Automotive Group by 35.2% during the 1st quarter. Gradient Investments LLC now owns 380 shares of the company’s stock valued at $62,000 after acquiring an additional 99 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Penske Automotive Group in the 2nd quarter valued at $69,000. Finally, WFA Asset Management Corp acquired a new stake in shares of Penske Automotive Group in the first quarter worth $84,000. 77.08% of the stock is currently 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.