Penske Automotive Group (NYSE:PAG) Shares Pass Above 200 Day Moving Average – Time to Sell?

Penske Automotive Group, Inc. (NYSE:PAG) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $162.47 and traded as high as $177.96. Penske Automotive Group shares last traded at $175.0210, with a volume of 227,027 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Penske Automotive Group in a research note on Thursday, June 11th. Morgan Stanley reissued an “overweight” rating and issued a $190.00 price target on shares of Penske Automotive Group in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Penske Automotive Group from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Barclays dropped their price objective on shares of Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, UBS Group initiated coverage on shares of Penske Automotive Group in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $167.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Penske Automotive Group Stock Up 3.9%

The stock has a 50-day moving average of $168.62 and a two-hundred day moving average of $162.71. The company has a market cap of $12.07 billion, a P/E ratio of 13.70, a P/E/G ratio of 2.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, April 29th. The company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.14. The business had revenue of $7.86 billion during the quarter, compared to analyst estimates of $7.71 billion. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.Penske Automotive Group’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.66 earnings per share. On average, research analysts anticipate that Penske Automotive Group, Inc. will post 13.46 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 26th were paid a $1.42 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.1%. Penske Automotive Group’s dividend payout ratio is currently 42.39%.

Insider Buying and Selling at Penske Automotive Group

In related news, Director Greg C. Smith sold 1,488 shares of Penske Automotive Group stock in a transaction on 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michelle Hulgrave sold 1,500 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $171.80, for a total transaction of $257,700.00. Following the completion of the sale, the chief financial officer directly owned 17,596 shares of the company’s stock, valued at $3,022,992.80. This represents a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 52.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Penske Automotive Group

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

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.