Analysts Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $170.25

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $170.25.

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

Penske Automotive Group Stock Performance

Shares of PAG opened at $163.26 on Thursday. The firm’s fifty day simple moving average is $159.17 and its two-hundred day simple moving average is $157.63. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $179.72. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10.90 billion, a P/E ratio of 12.51 and a beta of 1.18.

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

Penske Automotive Group Increases Dividend

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

Institutional Investors Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently made changes to their positions in PAG. Fifth Third Bancorp grew its stake in shares of Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after acquiring an additional 91 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Penske Automotive Group during the second quarter worth about $69,000. True Wealth Design LLC increased its stake in Penske Automotive Group by 14,833.3% in the 3rd 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 stake in Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group during the 3rd quarter worth approximately $94,000. Institutional investors and hedge funds 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.