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

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received a consensus recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $172.50.

Several equities research analysts have commented on PAG shares. JPMorgan Chase & Co. boosted their price target on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Benchmark started coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating for the company. Finally, Stephens reiterated an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday, February 18th.

Penske Automotive Group Stock Down 0.4 %

NYSE:PAG opened at $149.40 on Friday. The company has a market cap of $9.97 billion, a PE ratio of 10.87 and a beta of 1.24. The stock has a 50-day simple moving average of $163.05 and a 200 day simple moving average of $159.76. 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 $180.12.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.17. The company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. On average, sell-side analysts expect that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $1.22 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.27%. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Activity

In other news, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group 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 sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in shares of Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after buying an additional 10,663 shares in the last quarter. Highland Capital Management LLC bought a new position in Penske Automotive Group during the 4th quarter worth $240,000. Cerity Partners LLC raised its holdings in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock valued at $2,166,000 after acquiring an additional 8,504 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock valued at $198,000 after acquiring an additional 269 shares during the period. Finally, Merit Financial Group LLC bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at $287,000. Institutional investors 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.