Penske Automotive Group, Inc. (NYSE:PAG) Given Average Rating of “Moderate Buy” by Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $184.4286.

PAG has been the subject of several research reports. Bank of America began coverage on shares of Penske Automotive Group in a report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Penske Automotive Group in a report on Monday, December 8th. Citigroup raised their target price on Penske Automotive Group from $200.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Penske Automotive Group in a research report on Friday, October 31st. Finally, Benchmark increased their price target on shares of Penske Automotive Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th.

Insider Activity at Penske Automotive Group

In other news, CFO Michelle Hulgrave sold 2,100 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $160.17, for a total transaction of $336,357.00. Following the sale, the chief financial officer owned 16,822 shares of the company’s stock, valued at approximately $2,694,379.74. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bahl & Gaynor Inc. increased its stake in shares of Penske Automotive Group by 32.7% during the second quarter. Bahl & Gaynor Inc. now owns 127,776 shares of the company’s stock worth $21,953,000 after buying an additional 31,463 shares during the period. Ethic Inc. increased its holdings in Penske Automotive Group by 5.3% in the second quarter. Ethic Inc. now owns 2,110 shares of the company’s stock valued at $366,000 after buying an additional 106 shares during the last quarter. Trexquant Investment LP acquired a new stake in Penske Automotive Group in the first quarter valued at $471,000. Allworth Financial LP raised its stake in Penske Automotive Group by 3,351.1% in the second quarter. Allworth Financial LP now owns 49,247 shares of the company’s stock valued at $8,461,000 after buying an additional 47,820 shares in the last quarter. Finally, WBI Investments LLC purchased a new stake in Penske Automotive Group during the 2nd quarter worth about $2,305,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Penske Automotive Group Stock Up 0.2%

Shares of PAG opened at $166.47 on Monday. The company’s 50-day moving average price is $163.38 and its 200 day moving average price is $171.69. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $189.51. The company has a current ratio of 0.97, a quick ratio of 0.21 and a debt-to-equity ratio of 0.22. The firm has a market cap of $10.96 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 2.35 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, October 29th. The company reported $3.23 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.25). The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a return on equity of 16.84% and a net margin of 3.08%.The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $3.39 EPS. On average, sell-side analysts forecast that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th were given a $1.38 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $5.52 annualized dividend and a yield of 3.3%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.32. Penske Automotive Group’s dividend payout ratio is 38.85%.

About Penske Automotive Group

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.