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

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned a consensus rating of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $170.25.

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

Penske Automotive Group Price Performance

Shares of NYSE PAG traded up $0.22 during trading hours on Thursday, reaching $163.71. 15,766 shares of the stock traded hands, compared to its average volume of 181,178. The company has a market capitalization of $10.93 billion, a P/E ratio of 12.54 and a beta of 1.18. The company’s 50-day simple moving average is $158.87 and its two-hundred day simple moving average is $157.46. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 52-week low of $142.32 and a 52-week high of $179.72.

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

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors 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 dividend yield of 2.91%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend was Friday, November 15th. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PAG. Franklin Resources Inc. lifted its holdings in Penske Automotive Group by 65.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock valued at $1,906,000 after purchasing an additional 4,877 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Penske Automotive Group by 5.1% during the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after buying an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group during the third quarter worth approximately $94,000. Sanctuary Advisors LLC purchased a new stake in Penske Automotive Group in the 3rd quarter worth approximately $415,000. Finally, Virtu Financial LLC acquired a new position in Penske Automotive Group in the 3rd quarter valued at $284,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.