Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $172.50.

A number of analysts have weighed in on the stock. Benchmark assumed coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. raised 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.

Insiders Place Their Bets

In other Penske Automotive Group news, 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 completion of the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 51.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group in the 4th quarter valued at $40,000. True Wealth Design LLC raised its position in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock valued at $73,000 after purchasing an additional 445 shares during the last quarter. Transamerica Financial Advisors Inc. raised its holdings in shares of Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $74,000 after buying an additional 453 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Penske Automotive Group in the fourth quarter valued at about $76,000. 77.08% of the stock is owned by institutional investors.

Penske Automotive Group Price Performance

Shares of NYSE:PAG opened at $168.67 on Tuesday. The business has a 50 day moving average price of $161.79 and a 200 day moving average price of $160.72. Penske Automotive Group has a twelve month low of $142.32 and a twelve month high of $180.12. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 12.27 and a beta of 1.20. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22.

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, beating 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 company had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Research analysts predict that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a dividend of $1.22 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 2.89%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 35.49%.

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.