Penske Automotive Group (NYSE:PAG) Reaches New 12-Month Low on Analyst Downgrade

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) reached a new 52-week low on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $165.00 to $140.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Penske Automotive Group traded as low as $140.21 and last traded at $143.84, with a volume of 56760 shares. The stock had previously closed at $150.00.

Other analysts have also issued reports about the company. StockNews.com raised Penske Automotive Group from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a "buy" rating on the stock. Finally, Stephens reiterated 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Penske Automotive Group currently has a consensus rating of "Moderate Buy" and an average target price of $166.25.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the sale, the executive vice president now owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Barr sold 1,529 shares of the business's stock in a transaction that occurred on 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. Company insiders own 51.70% of the company's stock.

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Institutional Investors Weigh In On Penske Automotive Group

Several large investors have recently modified their holdings of PAG. GAMMA Investing LLC boosted its position in 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 acquiring an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at about $40,000. True Wealth Design LLC grew its stake in Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company's stock worth $73,000 after purchasing an additional 445 shares during the period. Headlands Technologies LLC bought a new stake in Penske Automotive Group in the fourth quarter worth approximately $76,000. Finally, TD Waterhouse Canada Inc. lifted its stake in Penske Automotive Group by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company's stock valued at $81,000 after buying an additional 158 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

The stock has a market capitalization of $9.41 billion, a P/E ratio of 10.25 and a beta of 1.24. 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 business has a fifty day simple moving average of $162.15 and a 200-day simple moving average of $159.34.

Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, topping 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 business had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. Sell-side analysts expect that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $1.22 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Monday, February 24th. Penske Automotive Group's dividend payout ratio (DPR) is currently 35.49%.

Penske Automotive Group Company Profile

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.