Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Recommendation of “Hold” from Brokerages

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

A number of equities analysts have recently issued reports on PAG shares. JPMorgan Chase & Co. raised their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 10th. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $115.00 to $180.00 in a research note on Wednesday, September 25th. Benchmark assumed coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating for the company. Finally, Stephens started coverage on Penske Automotive Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price objective for the company.

Penske Automotive Group Stock Performance

NYSE PAG opened at $156.52 on Thursday. The company has a fifty day moving average of $159.48 and a two-hundred day moving average of $157.87. The company has a market capitalization of $10.45 billion, a PE ratio of 11.99 and a beta of 1.18. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) 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 net margin of 2.91% and a return on equity of 18.38%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.90 earnings per share. As a group, analysts expect that Penske Automotive Group will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. Penske Automotive Group’s payout ratio is 36.48%.

Institutional Investors Weigh In On Penske Automotive Group

A number of hedge funds have recently added to or reduced their stakes in PAG. OFI Invest Asset Management acquired a new stake in Penske Automotive Group in the second quarter valued at $1,516,000. 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 valued at $2,166,000 after acquiring an additional 8,504 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after acquiring an additional 10,663 shares during the period. Aristeia Capital L.L.C. purchased a new position in Penske Automotive Group in the 2nd quarter valued at approximately $626,000. Finally, Millennium Management LLC raised its holdings in Penske Automotive Group by 9.1% during the second quarter. Millennium Management LLC now owns 126,278 shares of the company’s stock worth $18,818,000 after purchasing an additional 10,522 shares during the last quarter. 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.