Penske Automotive Group (NYSE:PAG) Cut to "Hold" at StockNews.com

StockNews.com downgraded shares of Penske Automotive Group (NYSE:PAG - Free Report) from a buy rating to a hold rating in a report published on Monday.

A number of other brokerages have also issued reports on PAG. Benchmark began coverage on Penske Automotive Group in a research note on Thursday, December 12th. They set a "buy" rating for the company. Stephens reissued 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, JPMorgan Chase & Co. decreased their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Penske Automotive Group has a consensus rating of "Hold" and a consensus price target of $166.25.

Penske Automotive Group Trading Up 1.9 %

NYSE:PAG traded up $2.85 during midday trading on Monday, hitting $151.67. 363,015 shares of the company traded hands, compared to its average volume of 195,758. The firm has a market capitalization of $10.12 billion, a P/E ratio of 11.03 and a beta of 1.03. The firm's fifty day moving average is $158.09 and its 200-day moving average is $158.54. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $180.12. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22.

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

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Penske Automotive Group's previous quarterly dividend of $1.19. Penske Automotive Group's dividend payout ratio is 35.49%.

Insider Activity

In other news, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated 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 owns 28,917 shares in the company, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Barr sold 1,529 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The disclosure for this sale can be found here. Insiders own 51.70% of the company's stock.

Institutional Investors Weigh In On Penske Automotive Group

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position 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 in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Penske Automotive Group during the fourth quarter worth $40,000. Headlands Technologies LLC acquired a new stake in shares of Penske Automotive Group in the fourth quarter valued at about $76,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Penske Automotive Group by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company's stock worth $81,000 after purchasing an additional 158 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Penske Automotive Group in the 3rd quarter worth $94,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.