Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Rating of “Reduce” by Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned an average recommendation of “Reduce” from the four analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $168.20.

Several research firms have recently weighed in on PAG. Morgan Stanley upped their price objective on Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Bank of America upped their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, Director John Barr sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total transaction of $246,480.00. Following the sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Penske Automotive Group news, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the transaction, the director now owns 51,001 shares of the company’s stock, valued at approximately $7,618,529.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Barr sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $154.05, for a total value of $246,480.00. Following the transaction, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. 52.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its holdings in Penske Automotive Group by 4.0% during the 4th quarter. Apollon Wealth Management LLC now owns 1,785 shares of the company’s stock worth $287,000 after buying an additional 68 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Penske Automotive Group by 3.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 2,215 shares of the company’s stock valued at $370,000 after purchasing an additional 70 shares during the period. Arizona State Retirement System boosted its position in shares of Penske Automotive Group by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 5,893 shares of the company’s stock worth $984,000 after purchasing an additional 73 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Penske Automotive Group by 1.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,186 shares of the company’s stock worth $672,000 after purchasing an additional 73 shares during the period. Finally, Alaska Permanent Fund Corp grew its stake in shares of Penske Automotive Group by 0.5% during the fourth quarter. Alaska Permanent Fund Corp now owns 15,675 shares of the company’s stock worth $2,516,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 1.0 %

Shares of PAG opened at $154.48 on Wednesday. Penske Automotive Group has a 12-month low of $133.72 and a 12-month high of $180.84. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $10.36 billion, a price-to-earnings ratio of 9.98 and a beta of 1.19. The stock’s 50-day moving average price is $153.23 and its 200 day moving average price is $153.59.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.21). Penske Automotive Group had a net margin of 3.57% and a return on equity of 24.19%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.18 billion. During the same quarter in the prior year, the firm earned $4.21 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Penske Automotive Group will post 13.83 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, February 14th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.79. This represents a $3.48 dividend on an annualized basis and a yield of 2.25%. Penske Automotive Group’s dividend payout ratio is 22.48%.

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.