Penske Automotive Group, Inc. (NYSE:PAG) has received an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $55.00.
Several analysts have issued reports on PAG shares. ValuEngine downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th. Northcoast Research reissued a “buy” rating on shares of Penske Automotive Group in a research note on Thursday, August 1st. Zacks Investment Research raised Penske Automotive Group from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a research note on Thursday. Finally, Morgan Stanley lifted their price target on Penske Automotive Group from $57.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th.
In related news, EVP Shane M. Spradlin sold 2,500 shares of Penske Automotive Group stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $48.55, for a total value of $121,375.00. Following the sale, the executive vice president now owns 41,982 shares of the company’s stock, valued at $2,038,226.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 42.60% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Penske Automotive Group in the second quarter valued at about $72,000. First Republic Investment Management Inc. increased its position in shares of Penske Automotive Group by 0.8% in the second quarter. First Republic Investment Management Inc. now owns 38,448 shares of the company’s stock valued at $1,819,000 after acquiring an additional 319 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Penske Automotive Group by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 533,537 shares of the company’s stock worth $25,236,000 after purchasing an additional 22,129 shares during the period. Janus Henderson Group PLC grew its holdings in Penske Automotive Group by 24.8% during the second quarter. Janus Henderson Group PLC now owns 10,632 shares of the company’s stock worth $503,000 after purchasing an additional 2,111 shares during the period. Finally, Jane Street Group LLC bought a new position in Penske Automotive Group during the second quarter worth about $3,503,000. 42.70% of the stock is currently owned by institutional investors and hedge funds.
PAG stock traded up $0.42 during midday trading on Friday, hitting $47.30. 218,725 shares of the company’s stock were exchanged, compared to its average volume of 286,585. The stock’s fifty day moving average price is $45.17 and its 200-day moving average price is $45.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.21 and a current ratio of 0.98. The company has a market cap of $3.85 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.60 and a beta of 1.30. Penske Automotive Group has a one year low of $38.49 and a one year high of $49.28.
Penske Automotive Group (NYSE:PAG) last posted its earnings results on Tuesday, July 30th. The company reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.17). The business had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.90 billion. Penske Automotive Group had a return on equity of 16.56% and a net margin of 2.00%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. On average, analysts expect that Penske Automotive Group will post 5.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 8th will be given a $0.41 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.40. Penske Automotive Group’s payout ratio is currently 29.96%.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It 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 primarily in Australia and New Zealand.
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