Penske Automotive Group (NYSE:PAG) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Penske Automotive Group, Inc. (NYSE:PAG) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $168.92 and traded as high as $171.09. Penske Automotive Group shares last traded at $167.2330, with a volume of 289,975 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PAG shares. Weiss Ratings restated a “buy (b)” rating on shares of Penske Automotive Group in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Penske Automotive Group in a research report on Monday, December 8th. 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. Bank of America initiated coverage on Penske Automotive Group in a report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Penske Automotive Group from $180.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.43.

Penske Automotive Group Trading Up 0.9%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.99. The business’s 50 day moving average price is $164.29 and its 200-day moving average price is $168.92. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 earnings per share 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 firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.62 billion. During the same period in the prior year, the firm earned $3.54 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts expect that Penske Automotive Group, Inc. will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th will be issued a $1.40 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. The ex-dividend date is Wednesday, February 25th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.3%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 40.89%.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, CFO Michelle Hulgrave sold 2,100 shares of Penske Automotive Group stock in a transaction on Monday, November 24th. The shares were sold at an average price of $160.17, for a total value of $336,357.00. Following the completion of the transaction, the chief financial officer owned 16,822 shares of the company’s stock, valued at $2,694,379.74. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 51.70% of the stock is owned by company insiders.

Institutional Trading of Penske Automotive Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can boosted its holdings 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 valued at $136,660,000 after buying an additional 861,157 shares during the period. Victory Capital Management Inc. lifted its holdings in Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock worth $241,958,000 after acquiring an additional 456,611 shares during the last quarter. Norges Bank acquired a new position in Penske Automotive Group in the fourth quarter valued at approximately $32,137,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $204,761,000 after purchasing an additional 156,308 shares during the last quarter. Finally, Hamlin Capital Management LLC bought a new position in shares of Penske Automotive Group during the fourth quarter valued at approximately $20,203,000. 77.08% of the stock is owned by institutional investors and hedge funds.

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.