Penske Automotive Group, Inc. (NYSE:PAG) has been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $53.20.

A number of equities analysts have recently weighed in on PAG shares. BidaskClub upgraded Penske Automotive Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. ValuEngine downgraded Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley dropped their price objective on Penske Automotive Group from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. Zacks Investment Research downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $46.00 price objective (down previously from $54.00) on shares of Penske Automotive Group in a report on Monday, July 17th.

Penske Automotive Group (PAG) traded up 0.78% during trading on Tuesday, reaching $40.31. 238,850 shares of the company’s stock traded hands. The firm has a 50 day moving average of $42.51 and a 200 day moving average of $45.22. Penske Automotive Group has a 1-year low of $38.33 and a 1-year high of $56.05. The firm has a market capitalization of $3.47 billion, a PE ratio of 9.61 and a beta of 1.48.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.44 billion. Penske Automotive Group had a return on equity of 19.13% and a net margin of 1.75%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. Equities analysts forecast that Penske Automotive Group will post $4.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 10th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.28 dividend on an annualized basis and a yield of 3.20%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.31. Penske Automotive Group’s dividend payout ratio is currently 30.55%.

In related news, EVP Shane M. Spradlin sold 1,900 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $43.64, for a total value of $82,916.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Robert H. Kurnick, Jr. sold 11,172 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $42.48, for a total value of $474,586.56. Following the completion of the transaction, the president now owns 89,405 shares in the company, valued at approximately $3,797,924.40. The disclosure for this sale can be found here. Insiders sold 18,072 shares of company stock worth $763,853 in the last 90 days. 40.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Bruni J V & Co. Co. increased its position in shares of Penske Automotive Group by 6.8% in the first quarter. Bruni J V & Co. Co. now owns 169,604 shares of the company’s stock valued at $7,939,000 after buying an additional 10,816 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Penske Automotive Group by 3.3% in the first quarter. UBS Asset Management Americas Inc. now owns 35,792 shares of the company’s stock valued at $1,675,000 after buying an additional 1,127 shares during the period. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 335,182 shares of the company’s stock valued at $15,689,000 after buying an additional 14,106 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Penske Automotive Group by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,873 shares of the company’s stock valued at $1,773,000 after buying an additional 128 shares during the period. Finally, LSV Asset Management increased its position in shares of Penske Automotive Group by 6.3% in the first quarter. LSV Asset Management now owns 2,416,007 shares of the company’s stock valued at $113,093,000 after buying an additional 142,956 shares during the period. Hedge funds and other institutional investors own 39.85% of the company’s stock.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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