Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Rating of "Hold" from Brokerages

Shares of Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) have been given an average recommendation of "Hold" by the five research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $170.25.

PAG has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target 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. Stephens assumed coverage on Penske Automotive Group in a report on Thursday, September 12th. They issued an "equal weight" rating and a $161.00 target price for 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. Finally, Morgan Stanley upgraded Penske Automotive Group from an "underweight" rating to an "overweight" rating and increased their price objective for the stock from $115.00 to $180.00 in a research note on Wednesday, September 25th.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors and hedge funds have recently bought and sold shares of PAG. Janus Henderson Group PLC raised its holdings in shares of Penske Automotive Group by 36.9% in the third quarter. Janus Henderson Group PLC now owns 39,569 shares of the company's stock valued at $6,426,000 after buying an additional 10,663 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Penske Automotive Group by 176.1% in the third quarter. Cerity Partners LLC now owns 13,333 shares of the company's stock worth $2,166,000 after acquiring an additional 8,504 shares during the last quarter. Aristeia Capital L.L.C. acquired a new position in shares of Penske Automotive Group during the second quarter worth approximately $626,000. Millennium Management LLC lifted 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 worth $18,818,000 after purchasing an additional 10,522 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Penske Automotive Group by 188.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,981 shares of the company's stock valued at $1,134,000 after purchasing an additional 4,559 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Penske Automotive Group Stock Performance

PAG stock traded down $1.63 during trading on Monday, reaching $149.06. 245,834 shares of the stock were exchanged, compared to its average volume of 180,178. The stock has a 50 day simple moving average of $159.47 and a 200-day simple moving average of $158.43. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $9.95 billion, a P/E ratio of 11.42 and a beta of 1.20. Penske Automotive Group has a twelve month low of $142.32 and a twelve month high of $179.72.

Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.90 earnings per share. As a group, sell-side analysts anticipate that Penske Automotive Group will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 3.19%. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. Penske Automotive Group's dividend payout ratio (DPR) is currently 36.48%.

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.