Penske Automotive Group, Inc. (NYSE:PAG) Receives $162.75 Consensus Price Target from Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $162.40.

Several research firms recently commented on PAG. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a report on Tuesday, September 10th. Bank of America lifted their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Stephens began coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target for the company.

Insider Buying and Selling

In other Penske Automotive Group news, Director John Barr sold 716 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 51.70% of the stock is currently owned by insiders.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently bought and sold shares of PAG. Creative Planning lifted its stake in shares of Penske Automotive Group by 10.3% in the 2nd quarter. Creative Planning now owns 1,927 shares of the company’s stock valued at $287,000 after purchasing an additional 180 shares during the period. Algert Global LLC purchased a new stake in shares of Penske Automotive Group during the second quarter worth $302,000. Susquehanna Fundamental Investments LLC grew its holdings in shares of Penske Automotive Group by 720.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company’s stock worth $3,546,000 after buying an additional 20,896 shares in the last quarter. Millennium Management LLC boosted its position in shares of Penske Automotive Group by 9.1% during the 2nd 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 last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Penske Automotive Group by 31.1% during the 2nd quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock valued at $62,280,000 after acquiring an additional 99,164 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $157.60 on Thursday. The stock has a market capitalization of $10.52 billion, a P/E ratio of 10.96 and a beta of 1.16. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $161.34 and its 200 day moving average is $155.42. Penske Automotive Group has a 12 month low of $137.95 and a 12 month high of $179.72.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.39 by $0.22. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.41 EPS. On average, sell-side analysts anticipate that Penske Automotive Group will post 13.79 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s dividend payout ratio (DPR) is currently 29.76%.

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.