Penske Automotive Group (NYSE:PAG) Price Target Lowered to $165.00 at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its price target reduced by JPMorgan Chase & Co. from $170.00 to $165.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 16th. Barclays lowered their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Citigroup lowered their price objective on Penske Automotive Group from $200.00 to $193.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Penske Automotive Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.43.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock opened at $161.44 on Friday. The stock’s 50-day simple moving average is $155.57 and its 200-day simple moving average is $160.94. Penske Automotive Group has a 52 week low of $140.12 and a 52 week high of $189.51. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.04 and a beta of 0.87. The company has a quick ratio of 0.22, a current ratio of 0.99 and a debt-to-equity ratio of 0.32.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $3.19 by ($0.28). Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.62 billion. During the same quarter in the previous year, the firm earned $3.54 earnings per share. Penske Automotive Group’s revenue was down 3.8% on a year-over-year basis. As a group, analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Wednesday, February 25th were given a $1.40 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, February 25th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 41.48%.

Institutional Investors Weigh In On Penske Automotive Group

Hedge funds have recently made changes to their positions in the company. Navalign LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter worth about $26,000. Rothschild Investment LLC lifted its position in shares of Penske Automotive Group by 935.3% in the third quarter. Rothschild Investment LLC now owns 176 shares of the company’s stock worth $31,000 after buying an additional 159 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Penske Automotive Group in the fourth quarter worth about $30,000. Root Financial Partners LLC purchased a new stake in shares of Penske Automotive Group in the third quarter worth about $33,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Penske Automotive Group in the first quarter worth about $42,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Company Profile

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.