Penske Automotive Group (NYSE:PAG) Earns Equal Weight Rating from Analysts at Stephens

Stephens initiated coverage on shares of Penske Automotive Group (NYSE:PAG) in a research report sent to investors on Thursday, MarketBeat.com reports. The firm issued an equal weight rating and a $161.00 target price on the stock.

Several other research analysts have also weighed in on the stock. Bank of America upped their price objective on shares of Penske Automotive Group from $175.00 to $180.00 and gave the company a buy rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Penske Automotive Group from $140.00 to $160.00 and gave the stock an underweight rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $162.40.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $152.21 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.22 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 10.58 and a beta of 1.16. The firm’s fifty day simple moving average is $160.63 and its 200 day simple moving average is $155.31. Penske Automotive Group has a twelve month low of $137.95 and a twelve month high of $179.72.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.39 by $0.22. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.59 billion. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.41 EPS. As a group, equities research analysts expect that Penske Automotive Group will post 13.79 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Thursday, August 15th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.96. Penske Automotive Group’s payout ratio is currently 29.76%.

Insider Transactions at Penske Automotive Group

In other Penske Automotive Group news, Director John Barr sold 716 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 51.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Penske Automotive Group

A number of large investors have recently bought and sold shares of PAG. Quest Partners LLC bought a new position in shares of Penske Automotive Group in the fourth quarter worth about $929,000. Gabelli Funds LLC grew its position in Penske Automotive Group by 6.2% in the 1st quarter. Gabelli Funds LLC now owns 85,500 shares of the company’s stock valued at $13,850,000 after purchasing an additional 5,000 shares during the period. State Board of Administration of Florida Retirement System grew its position in Penske Automotive Group by 15.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,466 shares of the company’s stock valued at $4,935,000 after purchasing an additional 4,057 shares during the period. OFI Invest Asset Management acquired a new stake in Penske Automotive Group in the 2nd quarter valued at $1,516,000. Finally, Manning & Napier Advisors LLC bought a new position in Penske Automotive Group during the 2nd quarter valued at $3,742,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.