Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $202.25

Penske Automotive Group, Inc. (NYSE:PAG) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $207.8750.

Several analysts have weighed in on the company. Citigroup cut Penske Automotive Group from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $199.00 to $210.00 in a report on Thursday, July 23rd. Weiss Ratings raised shares of Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Stephens lifted their price target on shares of Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday. Barclays boosted their price target on shares of Penske Automotive Group from $190.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, UBS Group set a $190.00 price objective on shares of Penske Automotive Group in a report on Friday, July 10th.

Insider Buying and Selling at Penske Automotive Group

In other news, Director Greg C. Smith sold 1,488 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michelle Hulgrave sold 1,500 shares of Penske Automotive Group stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total value of $257,700.00. Following the sale, the chief financial officer directly owned 17,596 shares of the company’s stock, valued at approximately $3,022,992.80. This trade represents a 7.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 52.90% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

Several hedge funds have recently added to or reduced their stakes in PAG. Jefferies Financial Group Inc. bought a new position in Penske Automotive Group during the fourth quarter worth about $3,679,000. Renaissance Technologies LLC grew its stake in Penske Automotive Group by 15.6% in the first quarter. Renaissance Technologies LLC now owns 81,500 shares of the company’s stock valued at $12,186,000 after acquiring an additional 11,000 shares during the period. Independent Solutions Wealth Management LLC bought a new stake in shares of Penske Automotive Group in the fourth quarter worth about $2,649,000. Norges Bank bought a new stake in shares of Penske Automotive Group in the fourth quarter worth about $32,137,000. Finally, First Trust Advisors LP increased its holdings in shares of Penske Automotive Group by 24.7% in the first quarter. First Trust Advisors LP now owns 81,838 shares of the company’s stock worth $12,236,000 after acquiring an additional 16,201 shares in the last quarter. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.3%

PAG stock opened at $216.31 on Tuesday. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $227.00. The company has a market cap of $14.20 billion, a P/E ratio of 15.93, a PEG ratio of 2.89 and a beta of 0.84. The business has a fifty day moving average of $190.65 and a 200-day moving average of $170.39.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.42 by $0.20. The business had revenue of $8.51 billion for the quarter, compared to analysts’ expectations of $7.98 billion. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.78 earnings per share. As a group, equities research analysts expect that Penske Automotive Group will post 13.48 EPS for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, August 14th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.42. Penske Automotive Group’s dividend payout ratio is presently 41.83%.

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.