Penske Automotive Group’s (PAG) Equal Weight Rating Reiterated at Stephens

Stephens reissued their equal weight rating on shares of Penske Automotive Group (NYSE:PAG) in a report released on Monday morning,Benzinga reports. Stephens currently has a $140.00 target price on the stock.

Several other equities research analysts also recently commented on PAG. JPMorgan Chase & Co. lowered their target price on shares of Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Citigroup began coverage on shares of Penske Automotive Group in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $185.00 price objective for the company. Finally, StockNews.com upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Penske Automotive Group presently has an average rating of “Moderate Buy” and an average price target of $165.00.

Penske Automotive Group Stock Performance

PAG stock opened at $155.18 on Monday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. Penske Automotive Group has a twelve month low of $134.05 and a twelve month high of $180.12. The business’s fifty day moving average is $152.76 and its 200-day moving average is $158.12. The company has a market cap of $10.27 billion, a P/E ratio of 11.29 and a beta of 0.90.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 30th. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.12. The firm had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.68 billion. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.21 earnings per share. Equities research analysts forecast that Penske Automotive Group will post 13.86 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 dividend on an annualized basis and a yield of 3.14%. Penske Automotive Group’s dividend payout ratio is presently 34.37%.

Insider Buying and Selling at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $173.03, for a total transaction of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, 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. Company insiders own 52.40% of the company’s stock.

Institutional Trading of Penske Automotive Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Penske Automotive Group during the 4th quarter worth approximately $22,049,000. Moran Wealth Management LLC acquired a new position in Penske Automotive Group during the fourth quarter worth $14,157,000. GAMMA Investing LLC raised its position in Penske Automotive Group by 21,771.8% during the first quarter. GAMMA Investing LLC now owns 57,304 shares of the company’s stock worth $8,251,000 after acquiring an additional 57,042 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Penske Automotive Group by 24.4% in the fourth quarter. Bank of New York Mellon Corp now owns 263,571 shares of the company’s stock valued at $40,179,000 after acquiring an additional 51,720 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Penske Automotive Group by 43.9% in the 4th quarter. Millennium Management LLC now owns 128,283 shares of the company’s stock valued at $19,555,000 after acquiring an additional 39,113 shares during the period. Institutional investors own 77.08% of the company’s stock.

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.