StockNews.com upgraded shares of Penske Automotive Group (NYSE:PAG - Free Report) from a hold rating to a buy rating in a report issued on Monday morning.
A number of other analysts also recently commented on the company. Benchmark assumed coverage on Penske Automotive Group in a research report on Thursday, December 12th. They issued 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 report on Wednesday, February 19th. Finally, Stephens reissued an "equal weight" rating and issued a $165.00 price target on shares of Penske Automotive Group in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.50.
Read Our Latest Stock Report on Penske Automotive Group
Penske Automotive Group Stock Performance
PAG stock traded up $3.08 on Monday, reaching $168.67. 303,916 shares of the company were exchanged, compared to its average volume of 193,752. The firm has a market capitalization of $11.26 billion, a PE ratio of 12.27 and a beta of 1.20. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $180.12. The stock's fifty day moving average price is $161.56 and its 200 day moving average price is $160.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.
Penske Automotive Group (NYSE:PAG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $7.72 billion for the quarter, compared to the consensus estimate of $7.56 billion. On average, research analysts anticipate that Penske Automotive Group will post 13.86 EPS for the current fiscal year.
Penske Automotive Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. The ex-dividend date is Monday, February 24th. 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 2.89%. Penske Automotive Group's dividend payout ratio (DPR) is presently 35.49%.
Insider Buying and Selling at Penske Automotive Group
In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 28,917 shares of the company's stock, valued at approximately $5,003,508.51. The trade was a 23.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 51.70% of the company's stock.
Institutional Trading of Penske Automotive Group
A number of hedge funds have recently modified their holdings of PAG. GAMMA Investing LLC increased its stake in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company's stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth $40,000. True Wealth Design LLC lifted its position in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company's stock valued at $73,000 after acquiring an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in Penske Automotive Group by 45,300.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company's stock worth $74,000 after purchasing an additional 453 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Penske Automotive Group in the 4th quarter worth $76,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.
About Penske Automotive Group
(
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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.
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