Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $138.91 and last traded at $141.49, with a volume of 198860 shares trading hands. The stock had previously closed at $149.50.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on PAG. JPMorgan Chase & Co. decreased their price objective on shares of Penske Automotive Group from $165.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Stephens reiterated an "equal weight" rating and issued a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. Benchmark started coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a "buy" rating for the company. Finally, StockNews.com lowered shares of Penske Automotive Group from a "buy" rating to a "hold" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $166.25.
Read Our Latest Stock Analysis on Penske Automotive Group
Penske Automotive Group Stock Performance
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's 50-day moving average is $158.97 and its two-hundred day moving average is $158.71. The stock has a market capitalization of $9.32 billion, a P/E ratio of 10.16 and a beta of 1.03.
Penske Automotive Group (NYSE:PAG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.72 billion for the quarter, compared to analysts' expectations of $7.56 billion. As a group, sell-side analysts anticipate that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.
Penske Automotive Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $1.22 dividend. 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 3.49%. Penske Automotive Group's dividend payout ratio is presently 35.49%.
Insider Activity at Penske Automotive Group
In other news, 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 transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Barr sold 1,529 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total value of $237,683.05. The disclosure for this sale can be found here. Company insiders own 51.70% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Penske Automotive Group by 36.9% during the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company's stock valued at $6,426,000 after purchasing an additional 10,663 shares in the last quarter. Highland Capital Management LLC acquired a new stake in Penske Automotive Group during the fourth quarter valued at approximately $240,000. Blue Trust Inc. boosted its holdings in Penske Automotive Group by 28.3% during the fourth quarter. Blue Trust Inc. now owns 1,221 shares of the company's stock worth $198,000 after buying an additional 269 shares in the last quarter. Merit Financial Group LLC acquired a new position in Penske Automotive Group in the fourth quarter worth approximately $287,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Penske Automotive Group in the third quarter valued at $415,000. 77.08% of the stock is owned by institutional investors and hedge funds.
About Penske Automotive Group
(
Get Free Report)
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.
Featured Articles
Before you consider Penske Automotive Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Penske Automotive Group wasn't on the list.
While Penske Automotive Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
