Penske Automotive Group (NYSE:PAG) Upgraded at StockNews.com

StockNews.com upgraded shares of Penske Automotive Group (NYSE:PAG) from a hold rating to a buy rating in a report issued on Monday.

Other research analysts have also recently issued research reports about the company. Benchmark began coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued a “buy” rating on the stock. Stephens reissued an “equal weight” rating and issued a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Penske Automotive Group currently has an average rating of “Moderate Buy” and an average target price of $172.50.

Penske Automotive Group Trading Down 0.0 %

Shares of Penske Automotive Group stock opened at $167.43 on Monday. The stock has a fifty day simple moving average of $161.39 and a 200 day simple moving average of $160.63. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12-month low of $142.32 and a 12-month high of $180.12. The company has a market capitalization of $11.18 billion, a P/E ratio of 12.18 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The business had revenue of $7.72 billion for the quarter, compared to analysts’ expectations of $7.56 billion. On average, sell-side analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 35.49%.

Insider Activity

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Burgundy Asset Management Ltd. lifted its holdings in Penske Automotive Group by 1.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock worth $122,998,000 after purchasing an additional 13,106 shares in the last quarter. CSS LLC IL lifted its holdings in Penske Automotive Group by 42.9% during the 4th quarter. CSS LLC IL now owns 2,650 shares of the company’s stock worth $404,000 after purchasing an additional 796 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Penske Automotive Group by 14.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,784 shares of the company’s stock worth $10,028,000 after purchasing an additional 8,438 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in Penske Automotive Group by 4.4% during the 4th quarter. Voloridge Investment Management LLC now owns 134,023 shares of the company’s stock worth $20,430,000 after purchasing an additional 5,669 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Penske Automotive Group by 4.7% during the 4th quarter. Squarepoint Ops LLC now owns 19,643 shares of the company’s stock worth $2,994,000 after purchasing an additional 873 shares in the last quarter. Hedge funds and other institutional investors 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.