Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) PT at $162.75

Penske Automotive Group, Inc. (NYSE:PAG) has received an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $162.40.

A number of equities analysts have recently issued reports on PAG shares. Bank of America raised their target price on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Stephens started coverage on Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th.

Insider Activity

In other news, Director John Barr sold 716 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $170.71, for a total value of $122,228.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Penske Automotive Group in the 4th quarter valued at about $30,844,000. AQR Capital Management LLC grew its stake in Penske Automotive Group by 31.1% during the 2nd quarter. AQR Capital Management LLC now owns 417,932 shares of the company’s stock worth $62,280,000 after buying an additional 99,164 shares during the last quarter. Burgundy Asset Management Ltd. grew its stake in Penske Automotive Group by 3.7% during the 4th quarter. Burgundy Asset Management Ltd. now owns 755,463 shares of the company’s stock worth $121,259,000 after buying an additional 27,055 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Penske Automotive Group during the 2nd quarter worth $3,742,000. Finally, BNP Paribas Financial Markets grew its stake in Penske Automotive Group by 119.7% during the 4th quarter. BNP Paribas Financial Markets now owns 39,855 shares of the company’s stock worth $6,397,000 after buying an additional 21,712 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 0.0 %

Shares of PAG opened at $157.60 on Thursday. The stock has a market capitalization of $10.52 billion, a PE ratio of 10.96 and a beta of 1.16. Penske Automotive Group has a 1 year low of $137.95 and a 1 year high of $179.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.98. The company’s 50-day simple moving average is $161.34 and its 200-day simple moving average is $155.42.

Penske Automotive Group (NYSE:PAG) last released its earnings results on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.59 billion. During the same period in the prior year, the firm earned $4.41 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Penske Automotive Group will post 13.79 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 Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.72%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s dividend payout ratio (DPR) is currently 29.76%.

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.