Penske Automotive Group (NYSE:PAG) Sets New 1-Year Low – Should You Sell?

Penske Automotive Group, Inc. (NYSE:PAG) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $140.21 and last traded at $143.84, with a volume of 56760 shares. The stock had previously closed at $150.00.

Analyst Upgrades and Downgrades

PAG has been the topic of a number of recent analyst reports. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Benchmark initiated coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a report on Wednesday, February 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Trading Down 3.2 %

The company has a market capitalization of $9.69 billion, a P/E ratio of 10.57 and a beta of 1.24. The company has a 50-day simple moving average of $163.03 and a 200 day simple moving average of $159.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction on Friday, February 14th. The stock was sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the sale, the executive vice president now owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PAG. Norges Bank acquired a new stake in Penske Automotive Group during the fourth quarter valued at approximately $22,049,000. Moran Wealth Management LLC acquired a new stake in Penske Automotive Group in the 4th quarter valued at $14,157,000. Bank of New York Mellon Corp grew its position in Penske Automotive Group by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after acquiring an additional 51,720 shares during the period. Millennium Management LLC raised its stake in Penske Automotive Group by 43.9% during the fourth quarter. Millennium Management LLC now owns 128,283 shares of the company’s stock worth $19,555,000 after acquiring an additional 39,113 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Penske Automotive Group by 17.4% during the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock valued at $39,560,000 after acquiring an additional 38,388 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

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.