Penske Automotive Group, Inc. (NYSE:PAG) Given Average Rating of “Hold” by Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $166.25.

PAG has been the subject of a number of analyst reports. Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday. Stephens restated an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th.

Insiders Place Their Bets

In related news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. The trade was a 23.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Barr sold 1,529 shares of the company’s stock in a transaction 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 currently owned by company insiders.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth $40,000. True Wealth Design LLC boosted its holdings in shares of Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. grew its position in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after purchasing an additional 453 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Penske Automotive Group in the fourth quarter valued at $76,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Stock Performance

NYSE PAG opened at $140.99 on Friday. The firm has a market cap of $9.41 billion, a P/E ratio of 10.25 and a beta of 1.24. Penske Automotive Group has a 52-week low of $139.56 and a 52-week high of $180.12. The business’s 50-day moving average price is $162.15 and its 200 day moving average price is $159.34. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share 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, equities research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid 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 dividend yield of 3.46%. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

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.