Brokerages Set Penske Automotive Group, Inc. (NYSE:PAG) Target Price at $202.25

Penske Automotive Group, Inc. (NYSE:PAG) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $207.8750.

A number of research firms have weighed in on PAG. Barclays increased their price objective on Penske Automotive Group from $190.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley restated an “overweight” rating and set a $190.00 price target on shares of Penske Automotive Group in a research note on Thursday, May 7th. Weiss Ratings raised Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Bank of America lifted their price objective on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Penske Automotive Group from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th.

Insider Transactions at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,488 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $160.02, for a total value of $238,109.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michelle Hulgrave sold 1,500 shares of Penske Automotive Group stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $171.80, for a total value of $257,700.00. Following the completion of the sale, the chief financial officer directly owned 17,596 shares in the company, valued at $3,022,992.80. This represents a 7.86% decrease in their position. The SEC filing for this sale provides additional information. 52.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Penske Automotive Group by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock valued at $54,751,000 after acquiring an additional 84,045 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Penske Automotive Group by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 68,884 shares of the company’s stock worth $9,918,000 after purchasing an additional 3,100 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Penske Automotive Group in the 1st quarter valued at about $42,000. EverSource Wealth Advisors LLC increased its holdings in shares of Penske Automotive Group by 506.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 880 shares of the company’s stock valued at $151,000 after purchasing an additional 735 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Penske Automotive Group by 47.0% in the second quarter. Brown Advisory Inc. now owns 3,108 shares of the company’s stock valued at $534,000 after purchasing an additional 994 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Trading Up 0.1%

NYSE PAG opened at $216.65 on Tuesday. The firm’s fifty day moving average is $191.64 and its two-hundred day moving average is $170.71. Penske Automotive Group has a one year low of $140.12 and a one year high of $227.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.21 and a current ratio of 0.98. The firm has a market cap of $14.22 billion, a PE ratio of 15.95, a P/E/G ratio of 2.88 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The business had revenue of $8.51 billion during the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter in the prior year, the firm earned $3.78 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts expect that Penske Automotive Group will post 13.58 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, August 14th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 41.83%.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.