Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) Target Price at $172.50

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received an average recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $172.50.

PAG has been the subject of several analyst reports. Benchmark assumed coverage on shares of Penske Automotive Group in a research report on Thursday, December 12th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their price target on Penske Automotive Group from $160.00 to $165.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 19th. Stephens reaffirmed an “equal weight” rating and set a $165.00 price target on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Finally, StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $150.06 on Friday. The stock has a market cap of $10.02 billion, a PE ratio of 10.91 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a 12 month low of $142.32 and a 12 month high of $180.12. The company’s fifty day moving average price is $163.03 and its 200-day moving average price is $159.62.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. On average, equities analysts expect that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.25%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, February 24th. Penske Automotive Group’s payout ratio is presently 35.49%.

Insiders Place Their Bets

In related news, Director John Barr sold 1,529 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAG. Norges Bank bought a new stake in Penske Automotive Group in the fourth quarter worth $22,049,000. Moran Wealth Management LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter worth approximately $14,157,000. Bank of New York Mellon Corp boosted its holdings in Penske Automotive Group by 24.4% during the 4th quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after acquiring an additional 51,720 shares during the period. Millennium Management LLC boosted its stake in shares of Penske Automotive Group by 43.9% during the fourth quarter. Millennium Management LLC now owns 128,283 shares of the company’s stock valued at $19,555,000 after purchasing an additional 39,113 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Penske Automotive Group by 17.4% during the fourth quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock valued at $39,560,000 after purchasing an additional 38,388 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.