Penske Automotive Group, Inc. (NYSE:PAG) Receives Consensus Rating of “Moderate Buy” from Analysts
by Kim Johansen · The Markets DailyShares of Penske Automotive Group, Inc. (NYSE:PAG – Get Free Report) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $183.7143.
Several research firms have recently weighed in on PAG. JPMorgan Chase & Co. dropped their target price on shares of Penske Automotive Group from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Bank of America assumed coverage on Penske Automotive Group in a report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Finally, Barclays lifted their target price on Penske Automotive Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 17th.
View Our Latest Stock Report on PAG
Institutional Trading of Penske Automotive Group
Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its position in shares of Penske Automotive Group by 39,232.7% in the 4th quarter. Bank of Montreal Can now owns 863,352 shares of the company’s stock worth $136,660,000 after buying an additional 861,157 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Penske Automotive Group by 48.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after buying an additional 456,611 shares during the last quarter. Norges Bank bought a new stake in shares of Penske Automotive Group during the 4th quarter valued at about $32,137,000. Dimensional Fund Advisors LP raised its stake in Penske Automotive Group by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,293,467 shares of the company’s stock worth $204,761,000 after acquiring an additional 156,308 shares during the period. Finally, Hamlin Capital Management LLC acquired a new stake in Penske Automotive Group during the fourth quarter worth about $20,203,000. Institutional investors own 77.08% of the company’s stock.
Penske Automotive Group Stock Performance
Penske Automotive Group stock opened at $149.39 on Wednesday. Penske Automotive Group has a 52 week low of $134.05 and a 52 week high of $189.51. The company has a current ratio of 0.99, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The stock has a market cap of $9.82 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The stock has a 50 day moving average of $156.67 and a 200-day moving average of $162.11.
Penske Automotive Group (NYSE:PAG – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.19 by ($0.28). Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.62 billion. During the same period in the prior year, the company earned $3.54 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. On average, analysts expect that Penske Automotive Group will post 13.86 EPS for the current fiscal year.
Penske Automotive Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Wednesday, February 25th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.7%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio (DPR) is 41.48%.
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.