Analysts Set Penske Automotive Group, Inc. (NYSE:PAG) Target Price at $170.25

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have earned an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $170.25.

Several equities analysts have recently weighed in on PAG shares. Benchmark began coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating on the stock. Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and increased their price target for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th.

Hedge Funds Weigh In On Penske Automotive Group

Several institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of Penske Automotive Group by 6.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,842 shares of the company’s stock valued at $722,000 after purchasing an additional 295 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Penske Automotive Group during the second quarter valued at about $280,000. Arizona State Retirement System boosted its position in Penske Automotive Group by 1.5% during the second quarter. Arizona State Retirement System now owns 5,626 shares of the company’s stock valued at $838,000 after buying an additional 84 shares during the period. Savant Capital LLC grew its stake in shares of Penske Automotive Group by 232.2% during the second quarter. Savant Capital LLC now owns 5,182 shares of the company’s stock valued at $772,000 after buying an additional 3,622 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Penske Automotive Group by 5.1% in the second quarter. Quest Partners LLC now owns 16,116 shares of the company’s stock worth $2,402,000 after buying an additional 775 shares during the period. 77.08% of the stock is currently owned by institutional investors.

Penske Automotive Group Stock Down 0.8 %

PAG stock opened at $151.26 on Monday. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $179.72. 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 stock has a market capitalization of $10.10 billion, a P/E ratio of 11.59 and a beta of 1.20. The firm has a 50-day moving average price of $159.50 and a 200-day moving average price of $158.35.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same quarter in the previous year, the company earned $3.90 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Penske Automotive Group will post 13.5 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th were issued a $1.19 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.15%. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

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.