Penske Automotive Group (NYSE:PAG) Price Target Raised to $212.00

Penske Automotive Group (NYSE:PAG) had its price target lifted by Barclays from $210.00 to $212.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the company. Bank of America raised their target price on Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Benchmark downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Citigroup lowered Penske Automotive Group from a “buy” rating to a “neutral” rating and raised their price objective for the company from $199.00 to $210.00 in a report on Thursday, July 23rd. JPMorgan Chase & Co. decreased their price objective on Penske Automotive Group from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. Finally, Weiss Ratings cut shares of Penske Automotive Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Penske Automotive Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.71.

Penske Automotive Group Price Performance

Shares of NYSE PAG opened at $212.25 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.21 and a current ratio of 0.98. The firm has a market cap of $13.94 billion, a PE ratio of 16.33 and a beta of 0.92. Penske Automotive Group has a one year low of $140.12 and a one year high of $227.00. The firm has a fifty day moving average of $210.13 and a 200 day moving average of $183.72.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, October 28th. The company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.01). Penske Automotive Group had a net margin of 2.77% and a return on equity of 14.82%. The company had revenue of $8.42 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter last year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts predict that Penske Automotive Group will post 13.39 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $1.46 per share. The ex-dividend date is Friday, November 13th. This represents a $5.84 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.44. Penske Automotive Group’s dividend payout ratio (DPR) is currently 42.01%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PAG. Parallel Advisors LLC lifted its position in shares of Penske Automotive Group by 15.1% during the first quarter. Parallel Advisors LLC now owns 441 shares of the company’s stock worth $66,000 after purchasing an additional 58 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Penske Automotive Group by 8.5% in the first quarter. Bessemer Group Inc. now owns 830 shares of the company’s stock valued at $124,000 after purchasing an additional 65 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Penske Automotive Group by 2.4% in the third quarter. Pictet Asset Management Holding SA now owns 2,804 shares of the company’s stock valued at $562,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Penske Automotive Group by 57.1% in the second quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock valued at $44,000 after purchasing an additional 89 shares in the last quarter. Finally, Blue Chip Partners LLC increased its stake in Penske Automotive Group by 0.9% during the 1st quarter. Blue Chip Partners LLC now owns 10,412 shares of the company’s stock worth $1,557,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

About Penske Automotive Group

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.