Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Rating of “Hold” from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $172.50.

Several brokerages recently weighed in on PAG. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Benchmark initiated coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating for the company. Finally, Stephens reaffirmed an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value 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 $5,003,508.51. The trade was a 23.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

A number of hedge funds have recently bought and sold shares of PAG. Blue Trust Inc. lifted its position in Penske Automotive Group by 25.8% in the 3rd quarter. Blue Trust Inc. now owns 952 shares of the company’s stock worth $142,000 after buying an additional 195 shares during the last quarter. International Assets Investment Management LLC lifted its position in Penske Automotive Group by 12,674.5% in the third quarter. International Assets Investment Management LLC now owns 59,146 shares of the company’s stock valued at $9,606,000 after purchasing an additional 58,683 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Penske Automotive Group by 188.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock valued at $1,134,000 after purchasing an additional 4,559 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in Penske Automotive Group by 103.3% in the third quarter. Pallas Capital Advisors LLC now owns 3,438 shares of the company’s stock valued at $529,000 after purchasing an additional 1,747 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Penske Automotive Group by 3.0% during the third quarter. Chicago Partners Investment Group LLC now owns 7,512 shares of the company’s stock valued at $1,140,000 after buying an additional 221 shares during the period. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $167.28 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $161.79 and its two-hundred day simple moving average is $160.70. Penske Automotive Group has a 1-year low of $142.32 and a 1-year high of $180.12. The stock has a market cap of $11.17 billion, a PE ratio of 12.17 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. The company had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, analysts forecast that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, February 24th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

About Penske Automotive Group

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.