Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $184.4286.

PAG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a report on Friday, October 31st. Bank of America initiated coverage on shares of Penske Automotive Group in a research report on Tuesday, December 9th. They set a “buy” rating and a $195.00 price target on the stock. Citigroup boosted their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Finally, Barclays assumed coverage on shares of Penske Automotive Group in a research note on Tuesday, November 11th. They issued an “overweight” rating and a $195.00 target price on the stock.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the transaction, the chief financial officer owned 16,822 shares in the company, valued at $2,694,379.74. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 51.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Penske Automotive Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP grew its position in Penske Automotive Group by 0.6% in the third quarter. Allworth Financial LP now owns 49,522 shares of the company’s stock valued at $8,612,000 after acquiring an additional 275 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Penske Automotive Group during the 3rd quarter valued at $510,000. Blue Chip Partners LLC increased its stake in Penske Automotive Group by 5.6% during the 3rd quarter. Blue Chip Partners LLC now owns 12,472 shares of the company’s stock worth $2,169,000 after buying an additional 662 shares during the period. Verition Fund Management LLC lifted its holdings in Penske Automotive Group by 62.8% in the 3rd quarter. Verition Fund Management LLC now owns 12,475 shares of the company’s stock worth $2,170,000 after buying an additional 4,813 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in Penske Automotive Group in the 3rd quarter valued at about $599,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $165.56 on Monday. Penske Automotive Group has a fifty-two week low of $134.05 and a fifty-two week high of $189.51. The firm’s 50 day moving average is $162.90 and its two-hundred day moving average is $171.63. The company has a market cap of $10.90 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.35 and a beta of 0.92. The company has a quick ratio of 0.21, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, October 29th. The company reported $3.23 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same quarter in the previous year, the company earned $3.39 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts expect that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Friday, November 14th were issued a $1.38 dividend. The ex-dividend date was Friday, November 14th. This represents a $5.52 annualized dividend and a yield of 3.3%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s payout ratio is currently 38.85%.

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.