Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) Price Target at $172.50

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) has earned an average recommendation of "Hold" from the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $172.50.

Several brokerages recently weighed in on PAG. JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $160.00 to $165.00 and gave the company an "underweight" rating in a report on Wednesday, February 19th. StockNews.com upgraded Penske Automotive Group from a "hold" rating to a "buy" rating in a report on Monday. Stephens reiterated an "equal weight" rating and set a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday, February 18th. Finally, Benchmark began coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a "buy" rating on the stock.

Insider Buying and Selling at Penske Automotive Group

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 shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the sale, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 51.70% of the company's stock.

Hedge Funds Weigh In On Penske Automotive Group

Several hedge funds have recently modified their holdings of PAG. Vanguard Group Inc. boosted its position in Penske Automotive Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company's stock valued at $304,757,000 after purchasing an additional 12,912 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Penske Automotive Group by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company's stock valued at $122,998,000 after buying an additional 13,106 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Penske Automotive Group by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 606,709 shares of the company's stock valued at $92,487,000 after buying an additional 20,506 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Penske Automotive Group by 24.4% during the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company's stock worth $40,179,000 after buying an additional 51,720 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Penske Automotive Group by 17.4% during the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company's stock worth $39,560,000 after acquiring an additional 38,388 shares in the last quarter. Institutional investors own 77.08% of the company's stock.

Penske Automotive Group Price Performance

PAG traded up $3.08 during midday trading on Tuesday, hitting $168.67. The company had a trading volume of 303,916 shares, compared to its average volume of 193,528. Penske Automotive Group has a twelve month low of $142.32 and a twelve month high of $180.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm's 50-day simple moving average is $161.56 and its 200-day simple moving average is $160.66. The company has a market capitalization of $11.26 billion, a PE ratio of 12.27 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $3.54 EPS for the quarter, beating the consensus estimate of $3.37 by $0.17. The company had revenue of $7.72 billion during the quarter, compared to analysts' expectations of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Equities research analysts predict that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, February 24th. This is a positive change from Penske Automotive Group's previous quarterly dividend of $1.19. 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.