Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $162.75

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $162.40.

Several equities analysts have recently weighed in on PAG shares. JPMorgan Chase & Co. raised their price objective on Penske Automotive Group from $140.00 to $160.00 and gave the company an "underweight" rating in a report on Tuesday. Bank of America increased their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Finally, Stephens began coverage on Penske Automotive Group in a research report on Thursday. They set an "equal weight" rating and a $161.00 price target on the stock.

Penske Automotive Group Stock Up 0.6 %

NYSE PAG traded up $0.82 during trading on Thursday, hitting $149.27. The stock had a trading volume of 157,232 shares, compared to its average volume of 192,119. The company has a market capitalization of $9.98 billion, a PE ratio of 10.36 and a beta of 1.16. Penske Automotive Group has a 12 month low of $137.95 and a 12 month high of $179.72. The company's 50-day moving average price is $160.39 and its two-hundred day moving average price is $155.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 EPS for the quarter, topping analysts' consensus estimates of $3.39 by $0.22. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.41 earnings per share. As a group, sell-side analysts forecast that Penske Automotive Group will post 13.83 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Thursday, August 15th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.87%. This is an increase from Penske Automotive Group's previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, August 15th. Penske Automotive Group's dividend payout ratio (DPR) is presently 29.76%.

Insider Buying and Selling

In related news, Director John Barr sold 716 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a filing with the SEC, which is available through this link. 51.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Creative Planning lifted its position in shares of Penske Automotive Group by 10.3% during the 2nd quarter. Creative Planning now owns 1,927 shares of the company's stock valued at $287,000 after buying an additional 180 shares in the last quarter. Algert Global LLC bought a new position in shares of Penske Automotive Group during the 2nd quarter valued at approximately $302,000. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Penske Automotive Group by 720.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,796 shares of the company's stock worth $3,546,000 after acquiring an additional 20,896 shares during the last quarter. Millennium Management LLC boosted its position in shares of Penske Automotive Group by 9.1% during the second quarter. Millennium Management LLC now owns 126,278 shares of the company's stock valued at $18,818,000 after buying an additional 10,522 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Penske Automotive Group by 31.1% during the second quarter. AQR Capital Management LLC now owns 417,932 shares of the company's stock worth $62,280,000 after purchasing an additional 99,164 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

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.