Penske Automotive Group (NYSE:PAG) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Penske Automotive Group, Inc. (NYSE:PAG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $162.47 and traded as high as $177.96. Penske Automotive Group shares last traded at $175.0210, with a volume of 227,027 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PAG shares. Citigroup lifted their price objective on shares of Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group assumed coverage on Penske Automotive Group in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $167.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating and issued a $190.00 price objective on shares of Penske Automotive Group in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Penske Automotive Group in a report on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.62.

Penske Automotive Group Stock Performance

The business has a 50-day moving average price of $167.67 and a 200-day moving average price of $162.47. The company has a quick ratio of 0.22, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 2.27 and a beta of 0.87.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The firm had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter last year, the firm earned $3.66 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Penske Automotive Group, Inc. will post 13.46 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 26th were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.2%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date was Tuesday, May 26th. Penske Automotive Group’s dividend payout ratio (DPR) is 42.39%.

Insider Activity

In other news, CFO Michelle Hulgrave sold 1,500 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total transaction of $257,700.00. Following the transaction, the chief financial officer owned 17,596 shares in the company, valued at $3,022,992.80. This represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Greg C. Smith sold 1,488 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $160.02, for a total transaction of $238,109.76. Additional details regarding this sale are available in the official SEC disclosure. 52.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Navalign LLC purchased a new position in Penske Automotive Group in the 4th quarter worth $26,000. International Assets Investment Management LLC purchased a new position in shares of Penske Automotive Group in the fourth quarter worth about $30,000. Rothschild Investment LLC raised its stake in shares of Penske Automotive Group by 37.5% in the fourth quarter. Rothschild Investment LLC now owns 242 shares of the company’s stock worth $38,000 after purchasing an additional 66 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Penske Automotive Group during the first quarter worth about $42,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Penske Automotive Group by 186.6% during the fourth quarter. Global Retirement Partners LLC now owns 321 shares of the company’s stock worth $51,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

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.