Penske Automotive Group, Inc. (PAG) Given Average Rating of “Hold” by Brokerages

Penske Automotive Group, Inc. (NYSE:PAG) has been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $55.60.

Several research analysts have commented on PAG shares. ValuEngine downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. JPMorgan Chase & Co. started coverage on Penske Automotive Group in a research note on Tuesday, February 19th. They set a “neutral” rating and a $51.00 target price for the company. Zacks Investment Research downgraded Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Seaport Global Securities started coverage on Penske Automotive Group in a report on Wednesday, February 13th. They set a “buy” rating and a $61.00 price target on the stock. Finally, Morgan Stanley reduced their price target on Penske Automotive Group from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th.

In other news, Director John Barr sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $44.31, for a total transaction of $221,550.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at $797,580. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 42.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Penske Automotive Group by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,515,687 shares of the company’s stock valued at $156,974,000 after acquiring an additional 224,467 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Penske Automotive Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 3,061,177 shares of the company’s stock valued at $145,069,000 after acquiring an additional 53,146 shares during the last quarter. LSV Asset Management boosted its holdings in Penske Automotive Group by 0.8% in the fourth quarter. LSV Asset Management now owns 2,746,859 shares of the company’s stock valued at $110,753,000 after acquiring an additional 21,725 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Penske Automotive Group by 4.9% in the fourth quarter. Victory Capital Management Inc. now owns 2,733,103 shares of the company’s stock valued at $110,199,000 after acquiring an additional 127,391 shares during the last quarter. Finally, CI Investments Inc. boosted its holdings in Penske Automotive Group by 21.7% in the fourth quarter. CI Investments Inc. now owns 1,212,661 shares of the company’s stock valued at $48,894,000 after acquiring an additional 216,600 shares during the last quarter. Institutional investors own 43.57% of the company’s stock.

NYSE PAG traded down $0.14 during trading on Thursday, hitting $43.76. 549,322 shares of the company’s stock were exchanged, compared to its average volume of 409,903. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.80. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.83 and a beta of 1.36. Penske Automotive Group has a fifty-two week low of $38.49 and a fifty-two week high of $53.84.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, April 25th. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.74 billion. Penske Automotive Group had a return on equity of 17.38% and a net margin of 2.05%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, sell-side analysts predict that Penske Automotive Group will post 5.5 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.39 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Friday, May 17th. Penske Automotive Group’s payout ratio is 29.21%.

Penske Automotive Group Company Profile

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.

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Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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