Shares of Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) have been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $124.60.
PAG has been the topic of several analyst reports. StockNews.com cut Penske Automotive Group from a "strong-buy" rating to a "buy" rating in a report on Monday, August 1st. Bank of America cut their price objective on Penske Automotive Group from $185.00 to $182.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Morgan Stanley dropped their target price on Penske Automotive Group from $95.00 to $93.00 and set an "underweight" rating on the stock in a research report on Thursday, July 14th.
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Insiders Place Their Bets
In related news, Director John Barr sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $116.06, for a total value of $580,300.00. Following the transaction, the director now directly owns 3,683 shares in the company, valued at $427,448.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 46.60% of the company's stock.
Institutional Investors Weigh In On Penske Automotive Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Atlas Capital Advisors LLC acquired a new stake in Penske Automotive Group in the 1st quarter worth about $26,000. Janiczek Wealth Management LLC boosted its stake in shares of Penske Automotive Group by 137.9% in the 2nd quarter. Janiczek Wealth Management LLC now owns 226 shares of the company's stock valued at $26,000 after purchasing an additional 131 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Penske Automotive Group by 153.4% in the 2nd quarter. Lazard Asset Management LLC now owns 299 shares of the company's stock valued at $31,000 after purchasing an additional 181 shares during the last quarter. First Quadrant LLC CA acquired a new position in shares of Penske Automotive Group during the 1st quarter valued at $33,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Penske Automotive Group by 32.8% during the 1st quarter. Quadrant Capital Group LLC now owns 413 shares of the company's stock valued at $39,000 after acquiring an additional 102 shares during the period. 33.07% of the stock is currently owned by institutional investors and hedge funds.
Penske Automotive Group Price Performance
NYSE:PAG opened at $110.79 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $8.22 billion, a P/E ratio of 6.10, a P/E/G ratio of 0.96 and a beta of 1.20. Penske Automotive Group has a 52 week low of $88.51 and a 52 week high of $126.93. The stock's fifty day moving average is $114.01 and its two-hundred day moving average is $108.44.
Penske Automotive Group (NYSE:PAG – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $4.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.47 by $0.46. The firm had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.07 billion. Penske Automotive Group had a return on equity of 34.68% and a net margin of 5.28%. The business's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.47 EPS. Equities analysts expect that Penske Automotive Group will post 18.16 EPS for the current year.
Penske Automotive Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 10th were paid a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.12 dividend on an annualized basis and a yield of 1.91%. This is a boost from Penske Automotive Group's previous quarterly dividend of $0.50. Penske Automotive Group's payout ratio is presently 11.68%.
About Penske Automotive Group
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Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.
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