Penske Automotive Group, Inc. (NYSE:PAG) Receives $208.50 Consensus Target Price from Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $208.50.

A number of equities analysts have weighed in on PAG shares. Barclays boosted their price objective on Penske Automotive Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Bank of America lifted their price target on Penske Automotive Group from $200.00 to $238.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Benchmark cut shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Stephens upped their price objective on shares of Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a research report on Friday, July 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in Penske Automotive Group by 14,982.0% in the 2nd quarter. California State Teachers Retirement System now owns 3,677,601 shares of the company’s stock valued at $658,107,000 after buying an additional 3,653,217 shares during the period. BlackRock Inc. purchased a new position in Penske Automotive Group during the second quarter worth about $417,516,000. Victory Capital Management Inc. boosted its stake in Penske Automotive Group by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock worth $234,914,000 after buying an additional 92,794 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Penske Automotive Group by 11.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock valued at $216,489,000 after acquiring an additional 154,443 shares during the last quarter. Finally, Diamant Asset Management Inc. raised its stake in shares of Penske Automotive Group by 14,852.0% in the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after acquiring an additional 878,496 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $219.41 on Friday. The firm has a 50-day simple moving average of $208.07 and a 200-day simple moving average of $178.30. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 16.16 and a beta of 0.84. Penske Automotive Group has a 52 week low of $140.12 and a 52 week high of $227.00.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.42 by $0.20. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. Penske Automotive Group’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.78 earnings per share. On average, equities analysts predict that Penske Automotive Group will post 13.66 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a dividend of $1.44 per share. The ex-dividend date was Friday, August 14th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. Penske Automotive Group’s payout ratio is 42.42%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.