By otakuyassine3@gmail.com 
Penske Automotive Group, Inc. (NYSE:PAG – Get Free Report) has been given a consensus rating of “Hold” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $170.25.
PAG has been the subject of a number of research analyst reports. Benchmark assumed coverage on Penske Automotive Group in a report on Thursday, December 12th. They set a “buy” rating for the company. Morgan Stanley upgraded shares of Penske Automotive Group from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Finally, Stephens assumed coverage on shares of Penske Automotive Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target for the company.
Read Our Latest Analysis on PAG
Penske Automotive Group Price Performance
Shares of PAG opened at $156.52 on Thursday. The firm has a 50-day simple moving average of $159.48 and a two-hundred day simple moving average of $157.87. The stock has a market cap of $10.45 billion, a PE ratio of 11.99 and a beta of 1.18. Penske Automotive Group has a 1-year low of $142.32 and a 1-year high of $179.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20.
Penske Automotive Group (NYSE:PAG – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The firm had revenue of $7.59 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same period in the previous year, the firm earned $3.90 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Penske Automotive Group will post 13.5 EPS for the current year.
Penske Automotive Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a $1.19 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date was Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.04%. Penske Automotive Group’s dividend payout ratio (DPR) is 36.48%.
Institutional Investors Weigh In On Penske Automotive Group
Several institutional investors have recently modified their holdings of PAG. Franklin Resources Inc. raised its stake in Penske Automotive Group by 65.6% in the third quarter. Franklin Resources Inc. now owns 12,316 shares of the company’s stock valued at $1,906,000 after buying an additional 4,877 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Penske Automotive Group by 5.1% in the 3rd quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after acquiring an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Penske Automotive Group during the 3rd quarter worth about $94,000. Sanctuary Advisors LLC acquired a new stake in shares of Penske Automotive Group during the 3rd quarter worth about $415,000. Finally, Virtu Financial LLC purchased a new stake in Penske Automotive Group during the third quarter worth approximately $284,000. 77.08% of the stock is owned by hedge funds and other institutional investors.
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.
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