Penske Automotive Group, Inc. (NYSE:PAG) Given Average Rating of “Hold” by Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $166.25.

PAG has been the topic of several research reports. StockNews.com lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Finally, Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday, February 18th.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction dated 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 directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Penske Automotive Group

Several hedge funds have recently bought and sold shares of the company. Stifel Financial Corp increased its stake in Penske Automotive Group by 39.1% in the third quarter. Stifel Financial Corp now owns 2,986 shares of the company’s stock valued at $485,000 after acquiring an additional 839 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Penske Automotive Group in the 3rd quarter valued at $284,000. Sanctuary Advisors LLC bought a new position in shares of Penske Automotive Group in the 3rd quarter valued at $415,000. Wilmington Savings Fund Society FSB bought a new position in shares of Penske Automotive Group in the 3rd quarter valued at $94,000. Finally, Tidal Investments LLC raised its holdings in shares of Penske Automotive Group by 5.1% during the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock worth $297,000 after buying an additional 88 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Trading Down 0.3 %

Shares of PAG stock opened at $150.81 on Wednesday. Penske Automotive Group has a 1 year low of $134.05 and a 1 year high of $180.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm has a market capitalization of $10.07 billion, a PE ratio of 10.97 and a beta of 1.03. The stock has a fifty day moving average of $157.37 and a two-hundred day moving average of $158.37.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. As a group, research analysts expect 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 was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.24%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

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.