Penske Automotive Group, Inc. (NYSE:PAG) Receives $170.25 Average PT from Brokerages

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

Several equities analysts have issued reports on PAG shares. 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 research note on Wednesday, September 25th. Stephens started coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price objective on the stock. Finally, Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock.

Penske Automotive Group Stock Performance

Shares of Penske Automotive Group stock opened at $152.60 on Monday. The firm’s fifty day simple moving average is $159.45 and its 200-day simple moving average is $158.43. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 11.69 and a beta of 1.20. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

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

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $1.19 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, November 15th. Penske Automotive Group’s payout ratio is presently 36.48%.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of Penske Automotive Group by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock worth $316,000 after purchasing an additional 69 shares in the last quarter. Applied Capital LLC FL boosted its position in shares of Penske Automotive Group by 0.4% during the 3rd quarter. Applied Capital LLC FL now owns 21,176 shares of the company’s stock worth $3,439,000 after purchasing an additional 77 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Penske Automotive Group by 0.5% during the 3rd quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after purchasing an additional 82 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Penske Automotive Group by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock worth $838,000 after purchasing an additional 84 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.