Penske Automotive Group, Inc. (NYSE:PAG) Receives $170.25 Consensus Price Target from Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has earned an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $170.25.

Several equities research analysts have recently commented on PAG shares. Morgan Stanley raised Penske Automotive Group from an “underweight” rating to an “overweight” rating and upped their target price for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating on the stock.

Hedge Funds Weigh In On Penske Automotive Group

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Penske Automotive Group by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the period. Franklin Resources Inc. increased its holdings in shares of Penske Automotive Group by 65.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock worth $1,906,000 after acquiring an additional 4,877 shares during the last quarter. Tidal Investments LLC raised its position in shares of Penske Automotive Group by 5.1% in the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after purchasing an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Penske Automotive Group during the third quarter worth approximately $94,000. Finally, Sanctuary Advisors LLC acquired a new stake in Penske Automotive Group during the 3rd quarter worth approximately $415,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Penske Automotive Group Trading Down 0.8 %

Penske Automotive Group stock opened at $151.26 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91. The firm’s 50-day moving average is $159.50 and its 200-day moving average is $158.35. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $179.72. The company has a market cap of $10.10 billion, a P/E ratio of 11.59 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $3.39 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.02). The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. Penske Automotive Group’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.90 EPS. On average, equities analysts expect that Penske Automotive Group will post 13.5 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th were given a dividend of $1.19 per share. The ex-dividend date was Friday, November 15th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. This represents a $4.76 dividend on an annualized basis and a yield of 3.15%. Penske Automotive Group’s dividend payout ratio is presently 36.48%.

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.