Penske Automotive Group (NYSE:PAG) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Penske Automotive Group (NYSE:PAG) from a hold rating to a buy rating in a research note released on Monday morning.

Several other equities research analysts have also commented on PAG. Stephens reissued an “equal weight” rating and issued a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an “underweight” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Stock Performance

PAG opened at $164.83 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.20 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 firm has a 50 day moving average of $161.05 and a two-hundred day moving average of $160.54. The firm has a market capitalization of $11.01 billion, a PE ratio of 11.99 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data 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 net margin of 3.02% and a return on equity of 18.05%. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. On average, analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a $1.22 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, February 24th. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 51.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. grew its stake in shares of Penske Automotive Group by 1.7% during the fourth quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock worth $122,998,000 after purchasing an additional 13,106 shares in the last quarter. CSS LLC IL lifted its position in shares of Penske Automotive Group by 42.9% during the 4th quarter. CSS LLC IL now owns 2,650 shares of the company’s stock worth $404,000 after buying an additional 796 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Penske Automotive Group by 14.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company’s stock worth $10,028,000 after acquiring an additional 8,438 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of Penske Automotive Group by 4.4% during the fourth quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company’s stock worth $20,430,000 after purchasing an additional 5,669 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Penske Automotive Group by 4.7% during the 4th quarter. Squarepoint Ops LLC now owns 19,643 shares of the company’s stock worth $2,994,000 after buying an additional 873 shares during the last quarter. 77.08% of the stock is owned by institutional investors and hedge funds.

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.