Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) Target Price at $170.25

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $170.25.

Several research analysts have weighed in on PAG shares. JPMorgan Chase & Co. lifted their target price on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. Stephens initiated coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price on the stock. Finally, Benchmark started coverage on shares of Penske Automotive Group in a research report on Thursday. They issued a “buy” rating for the company.

Penske Automotive Group Trading Down 1.1 %

NYSE PAG opened at $163.26 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. Penske Automotive Group has a 52 week low of $142.32 and a 52 week high of $179.72. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 12.51 and a beta of 1.18. The stock’s 50 day moving average price is $159.17 and its two-hundred day moving average price is $157.63.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.90 EPS. As a group, analysts anticipate that Penske Automotive Group will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a $1.19 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 2.92%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 36.48%.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its position in Penske Automotive Group by 65.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock valued at $1,906,000 after acquiring an additional 4,877 shares during the period. Tidal Investments LLC grew its stake in shares of Penske Automotive Group by 5.1% in the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after purchasing an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group in the third quarter valued at $94,000. Sanctuary Advisors LLC bought a new position in Penske Automotive Group during the 3rd quarter worth $415,000. Finally, Virtu Financial LLC bought a new position in Penske Automotive Group during the 3rd quarter worth $284,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.