Penske Automotive Group, Inc. (NYSE:PAG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $182.6250.

A number of equities analysts recently weighed in on PAG shares. UBS Group initiated coverage on shares of Penske Automotive Group in a report on Wednesday, May 27th. They issued a “neutral” rating and a $167.00 price target on the stock. Barclays decreased their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Weiss Ratings cut shares of Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 16th. Stephens lifted their price target on shares of Penske Automotive Group from $155.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $190.00 price objective on shares of Penske Automotive Group in a report on Thursday, May 7th.

Penske Automotive Group Stock Performance

Shares of PAG opened at $181.30 on Monday. The stock has a 50 day moving average of $164.59 and a 200 day moving average of $161.86. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.34 and a beta of 0.87. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $189.51. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39.

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 the consensus estimate of $2.91 by $0.14. The business had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.66 earnings per share. As a group, sell-side analysts forecast that Penske Automotive Group will post 13.46 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 26th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.40. Penske Automotive Group’s payout ratio is currently 42.39%.

Insider Buying and Selling at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 52.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Penske Automotive Group

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Penske Automotive Group by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after buying an additional 84,045 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Penske Automotive Group by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock worth $9,918,000 after acquiring an additional 3,100 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Penske Automotive Group in the first quarter worth $42,000. EverSource Wealth Advisors LLC grew its position in shares of Penske Automotive Group by 506.9% in the second quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after purchasing an additional 735 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Penske Automotive Group by 47.0% in the second quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after purchasing an additional 994 shares in the last quarter. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

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.