Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $165.00.

A number of equities analysts recently weighed in on PAG shares. Citigroup began coverage on shares of 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. Stephens reaffirmed an “equal weight” rating and set a $140.00 price objective on shares of Penske Automotive Group in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 23rd.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $159.49 on Friday. The business’s 50 day moving average price is $152.50 and its 200 day moving average price is $158.26. The firm has a market cap of $10.55 billion, a P/E ratio of 11.60 and a beta of 0.90. 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 has a 52 week low of $134.05 and a 52 week high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, April 30th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.12. The firm had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $3.21 EPS. On average, sell-side 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. Stockholders of record on Monday, February 24th were given a $1.22 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Monday, February 24th. Penske Automotive Group’s dividend payout ratio is currently 34.37%.

Insider Buying and Selling

In other news, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction 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 of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 52.40% of the stock is owned by company insiders.

Institutional Trading of Penske Automotive Group

A number of large investors have recently modified their holdings of the company. Highland Capital Management LLC bought a new stake in Penske Automotive Group during the 4th quarter valued at $240,000. Blue Trust Inc. raised its position in Penske Automotive Group by 28.3% in the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after acquiring an additional 269 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Penske Automotive Group during the fourth quarter valued at approximately $287,000. Bank of Montreal Can grew its position in Penske Automotive Group by 6.4% in the fourth quarter. Bank of Montreal Can now owns 2,651 shares of the company’s stock worth $404,000 after buying an additional 160 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Penske Automotive Group by 4.7% during the 4th quarter. Rhumbline Advisers now owns 54,063 shares of the company’s stock valued at $8,241,000 after acquiring an additional 2,446 shares during the last quarter. Institutional investors and hedge funds 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.