Penske Automotive Group (NYSE:PAG) Reaches New 1-Year Low – Time to Sell?

Penske Automotive Group, Inc. (NYSE:PAG) reached a new 52-week low on Thursday . The company traded as low as $138.91 and last traded at $141.49, with a volume of 198860 shares trading hands. The stock had previously closed at $149.50.

Analyst Ratings Changes

Several research analysts recently issued reports on PAG shares. JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Stephens restated an “equal weight” rating and set a $165.00 target price on shares of Penske Automotive Group in a research report on Tuesday, February 18th. Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Penske Automotive Group currently has an average rating of “Moderate Buy” and a consensus price target of $166.25.

Penske Automotive Group Stock Performance

The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 10.29 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. The firm has a fifty day simple moving average of $160.47 and a 200-day simple moving average of $159.11.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.37 by $0.17. The business had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.56 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. Analysts forecast that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

Insider Transactions at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the transaction, the executive vice president now owns 28,917 shares in the company, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 52.40% of the stock is owned by corporate insiders.

Institutional Trading of Penske Automotive Group

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Penske Automotive Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,999,191 shares of the company’s stock valued at $304,757,000 after purchasing an additional 12,912 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Penske Automotive Group by 1.7% in the 4th quarter. Burgundy Asset Management Ltd. now owns 806,860 shares of the company’s stock valued at $122,998,000 after buying an additional 13,106 shares during the period. AQR Capital Management LLC increased its position in shares of Penske Automotive Group by 3.5% in the 4th quarter. AQR Capital Management LLC now owns 606,709 shares of the company’s stock valued at $92,487,000 after buying an additional 20,506 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Penske Automotive Group by 24.4% in 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 buying an additional 51,720 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Penske Automotive Group by 17.4% during the 4th quarter. American Century Companies Inc. now owns 259,513 shares of the company’s stock worth $39,560,000 after buying an additional 38,388 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Company Profile

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.