Penske Automotive Group’s (PAG) “Equal Weight” Rating Reaffirmed at Stephens

Stephens reaffirmed their equal weight rating on shares of Penske Automotive Group (NYSE:PAG) in a report published on Tuesday,Benzinga reports. They currently have a $165.00 price objective on the stock.

Separately, Benchmark initiated coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $171.25.

Penske Automotive Group Stock Performance

PAG stock opened at $171.72 on Tuesday. The firm has a market cap of $11.47 billion, a PE ratio of 13.16 and a beta of 1.20. 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 12-month low of $142.32 and a 12-month high of $180.12. The business has a 50 day moving average of $160.69 and a 200-day moving average of $160.34.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. The business had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. As a group, sell-side analysts expect that Penske Automotive Group will post 13.51 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a dividend of $1.22 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio is currently 36.48%.

Hedge Funds Weigh In On Penske Automotive Group

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after buying an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Penske Automotive Group in the 4th quarter worth about $40,000. True Wealth Design LLC grew 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 valued at $73,000 after buying an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after acquiring an additional 453 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Penske Automotive Group in the fourth quarter worth approximately $76,000. Institutional investors 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.