Penske Automotive Group (PAG) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Penske Automotive Group (NYSE:PAG) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $51.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Seaport Global Securities started coverage on shares of Penske Automotive Group in a report on Wednesday, February 13th. They issued a buy rating and a $61.00 price target on the stock. Morgan Stanley upped their price target on shares of Penske Automotive Group from $61.00 to $62.00 and gave the company a buy rating in a report on Wednesday, November 14th. Finally, ValuEngine raised shares of Penske Automotive Group from a sell rating to a hold rating in a research note on Friday, January 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Penske Automotive Group currently has an average rating of Hold and a consensus target price of $56.83.

PAG stock opened at $43.73 on Tuesday. Penske Automotive Group has a 52 week low of $38.49 and a 52 week high of $53.84. The stock has a market cap of $3.79 billion, a P/E ratio of 8.19, a P/E/G ratio of 1.79 and a beta of 1.37. The company has a current ratio of 1.01, a quick ratio of 0.21 and a debt-to-equity ratio of 0.81.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 7th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.05). Penske Automotive Group had a net margin of 2.07% and a return on equity of 17.73%. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts predict that Penske Automotive Group will post 5.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Monday, February 11th will be given a dividend of $0.38 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 8th. This represents a $1.52 annualized dividend and a yield of 3.48%. Penske Automotive Group’s dividend payout ratio is 28.46%.

A number of hedge funds have recently modified their holdings of PAG. BlackRock Inc. increased its position in Penske Automotive Group by 18.3% during the third quarter. BlackRock Inc. now owns 3,636,120 shares of the company’s stock worth $172,316,000 after purchasing an additional 562,334 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in Penske Automotive Group during the fourth quarter worth approximately $19,176,000. Victory Capital Management Inc. increased its position in Penske Automotive Group by 18.9% during the third quarter. Victory Capital Management Inc. now owns 2,605,712 shares of the company’s stock worth $123,485,000 after purchasing an additional 413,929 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Penske Automotive Group in the third quarter worth $17,577,000. Finally, CI Investments Inc. increased its position in shares of Penske Automotive Group by 21.7% in the fourth quarter. CI Investments Inc. now owns 1,212,661 shares of the company’s stock worth $48,894,000 after acquiring an additional 216,600 shares in the last quarter. 41.66% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

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.

Further Reading: Liquidity

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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