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

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $170.25.

A number of brokerages recently issued reports on PAG. Benchmark started coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating on the stock. Morgan Stanley raised shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th.

Penske Automotive Group Stock Down 0.8 %

Penske Automotive Group stock opened at $151.26 on Monday. Penske Automotive Group has a 1-year low of $142.32 and a 1-year high of $179.72. The firm’s fifty day simple moving average is $159.51 and its 200-day simple moving average is $158.42. The company has a market capitalization of $10.10 billion, a P/E ratio of 11.59 and a beta of 1.20. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a return on equity of 18.38% and a net margin of 2.91%. Penske Automotive Group’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.90 earnings per share. Sell-side analysts forecast that Penske Automotive Group will post 13.5 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were issued a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, November 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is 36.48%.

Institutional Trading of Penske Automotive Group

Several institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in Penske Automotive Group by 36.9% during the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock valued at $6,426,000 after purchasing an additional 10,663 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Penske Automotive Group by 176.1% during the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after buying an additional 8,504 shares during the period. Aristeia Capital L.L.C. acquired a new stake in Penske Automotive Group in the 2nd quarter valued at $626,000. Millennium Management LLC grew its position in Penske Automotive Group by 9.1% in the second quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock valued at $18,818,000 after acquiring an additional 10,522 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Penske Automotive Group by 188.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company’s stock worth $1,134,000 after acquiring an additional 4,559 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.