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

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $163.20.

A number of brokerages have weighed in on PAG. Bank of America increased their price target on Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their price objective on Penske Automotive Group from $107.00 to $115.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th.

Institutional Trading of Penske Automotive Group

Several large investors have recently added to or reduced their stakes in PAG. Rhumbline Advisers increased its holdings in Penske Automotive Group by 136.8% in the 3rd quarter. Rhumbline Advisers now owns 62,011 shares of the company’s stock valued at $10,360,000 after purchasing an additional 35,825 shares in the last quarter. Invesco Ltd. increased its holdings in Penske Automotive Group by 164.3% in the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after purchasing an additional 181,995 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Penske Automotive Group by 306.3% in the 3rd quarter. Hsbc Holdings PLC now owns 25,785 shares of the company’s stock valued at $4,331,000 after purchasing an additional 19,438 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Penske Automotive Group in the 3rd quarter valued at $301,000. Finally, Federated Hermes Inc. acquired a new stake in Penske Automotive Group in the 3rd quarter valued at $398,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Trading Up 0.6 %

Shares of Penske Automotive Group stock opened at $151.18 on Monday. Penske Automotive Group has a fifty-two week low of $137.95 and a fifty-two week high of $180.84. The firm has a market cap of $10.11 billion, a PE ratio of 10.51 and a beta of 1.19. The business’s fifty day moving average is $151.96 and its two-hundred day moving average is $153.32. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30.

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

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Friday, May 17th. Penske Automotive Group’s dividend payout ratio is presently 26.70%.

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.