Penske Automotive Group (NYSE:PAG) Price Target Lowered to $170.00 at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its price target decreased by JPMorgan Chase & Co. from $175.00 to $170.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Barclays boosted their target price on shares of Penske Automotive Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Weiss Ratings cut shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Bank of America started coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and an average price target of $183.71.

Penske Automotive Group Price Performance

Shares of PAG opened at $140.51 on Friday. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $189.51. The business has a 50-day simple moving average of $159.76 and a two-hundred day simple moving average of $164.83. The company has a quick ratio of 0.22, a current ratio of 0.99 and a debt-to-equity ratio of 0.32. The stock has a market cap of $9.24 billion, a PE ratio of 10.41, a PEG ratio of 1.50 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. Penske Automotive Group’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.54 earnings per share. Analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.0%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. Penske Automotive Group’s dividend payout ratio is currently 41.48%.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in Penske Automotive Group by 0.4% during the second quarter. California State Teachers Retirement System now owns 18,434 shares of the company’s stock valued at $3,167,000 after purchasing an additional 65 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Penske Automotive Group by 2.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $561,000 after buying an additional 65 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Penske Automotive Group by 5.4% in the third quarter. Aptus Capital Advisors LLC now owns 1,261 shares of the company’s stock worth $219,000 after buying an additional 65 shares during the period. Rothschild Investment LLC lifted its position in shares of Penske Automotive Group by 37.5% during the 4th quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock valued at $38,000 after buying an additional 66 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Penske Automotive Group by 11.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 674 shares of the company’s stock valued at $116,000 after buying an additional 67 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.