Penske Automotive Group, Inc. (NYSE:PAG) Receives $185.17 Consensus PT from Analysts

by · The Markets Daily

Penske Automotive Group, Inc. (NYSE:PAG – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $184.3333.

Several research analysts have commented on PAG shares. Morgan Stanley lifted their price target on Penske Automotive Group from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lowered their target price on shares of Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday. Benchmark lifted their target price on shares of Penske Automotive Group from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st. Finally, Citigroup raised their price objective on shares of Penske Automotive Group from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th.

View Our Latest Report on PAG

Penske Automotive Group Price Performance

Shares of PAG opened at $154.70 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.21. Penske Automotive Group has a 1-year low of $134.05 and a 1-year high of $189.51. The stock has a market cap of $10.19 billion, a PE ratio of 10.89 and a beta of 0.90. The firm has a fifty day moving average price of $172.68 and a 200 day moving average price of $171.11.

Penske Automotive Group (NYSE:PAG – Get Free Report) last posted its earnings results on Wednesday, October 29th. The company reported $3.23 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.25). Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same quarter last year, the firm posted $3.39 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, November 14th will be issued a dividend of $1.38 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. Penske Automotive Group’s dividend payout ratio is 38.85%.

Insider Activity

In other news, CFO Michelle Hulgrave sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $182.55, for a total value of $200,805.00. Following the transaction, the chief financial officer owned 18,922 shares of the company’s stock, valued at approximately $3,454,211.10. The trade was a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lisa Ann Davis sold 1,604 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $180.74, for a total value of $289,906.96. Following the sale, the director directly owned 1,529 shares of the company’s stock, valued at approximately $276,351.46. This represents a 51.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

A number of large investors have recently bought and sold shares of PAG. Norges Bank purchased a new stake in shares of Penske Automotive Group in the second quarter valued at about $32,425,000. AQR Capital Management LLC lifted its position in Penske Automotive Group by 21.1% in the second quarter. AQR Capital Management LLC now owns 681,741 shares of the company’s stock valued at $116,953,000 after purchasing an additional 118,976 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after purchasing an additional 84,045 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Penske Automotive Group by 4,364.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 84,865 shares of the company’s stock worth $14,581,000 after purchasing an additional 82,964 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Penske Automotive Group during the 1st quarter worth approximately $10,004,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

About Penske Automotive Group

(Get Free Report)

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.

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