Penske Automotive Group, Inc. (NYSE:PAG) Given Average Recommendation of "Hold" by Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) have received a consensus rating of "Hold" from the five ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $172.50.

Several research firms have commented on PAG. Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a "buy" rating for the company. JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $160.00 to $165.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 19th. Stephens reaffirmed an "equal weight" rating and set a $165.00 price objective on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, StockNews.com raised shares of Penske Automotive Group from a "hold" rating to a "buy" rating in a research report on Monday, February 24th.

Penske Automotive Group Price Performance

Shares of NYSE:PAG traded down $0.49 during trading on Friday, reaching $153.82. 185,542 shares of the company's stock traded hands, compared to its average volume of 178,216. The firm has a market cap of $10.27 billion, a PE ratio of 11.19 and a beta of 1.24. Penske Automotive Group has a fifty-two week low of $142.32 and a fifty-two week high of $180.12. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $163.07 and a 200-day simple moving average of $159.64.

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Penske Automotive Group (NYSE:PAG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.37 by $0.17. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued 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 of this dividend was Monday, February 24th. This represents a $4.88 annualized dividend and a dividend yield of 3.17%. Penske Automotive Group's dividend payout ratio (DPR) is 35.49%.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 1,529 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now directly owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Penske Automotive Group

Institutional investors have recently modified their holdings of the business. Wealthspire Advisors LLC increased its position in Penske Automotive Group by 2.4% in the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company's stock worth $417,000 after buying an additional 63 shares during the period. CIBC Asset Management Inc grew its stake in shares of Penske Automotive Group by 3.7% in the third quarter. CIBC Asset Management Inc now owns 1,946 shares of the company's stock worth $316,000 after purchasing an additional 69 shares in the last quarter. Blue Chip Partners LLC increased its holdings in shares of Penske Automotive Group by 0.7% during the fourth quarter. Blue Chip Partners LLC now owns 10,606 shares of the company's stock valued at $1,617,000 after purchasing an additional 73 shares during the period. GAMMA Investing LLC raised its stake in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Penske Automotive Group by 0.5% in the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company's stock worth $2,704,000 after purchasing an additional 82 shares during the period. Institutional investors own 77.08% of the company's stock.

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.