Penske Automotive Group (NYSE:PAG) Sets New 52-Week Low Following Analyst Downgrade

Penske Automotive Group, Inc. (NYSE:PAG)’s share price reached a new 52-week low during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $165.00 to $140.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Penske Automotive Group traded as low as $140.21 and last traded at $143.84, with a volume of 56760 shares. The stock had previously closed at $150.00.

Several other analysts have also recently commented on the stock. Stephens reaffirmed an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a research note on Tuesday, February 18th. StockNews.com raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Benchmark started coverage on shares of Penske Automotive Group in a research note on Thursday, December 12th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Insider Activity at Penske Automotive Group

In related news, Director John Barr sold 1,529 shares of Penske Automotive Group 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction on Friday, February 14th. The stock was 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 owns 28,917 shares in the company, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.70% of the company’s stock.

Institutional Trading of Penske Automotive Group

A number of hedge funds and other institutional investors have recently modified their holdings of PAG. GAMMA Investing LLC grew its stake in Penske Automotive Group by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth approximately $40,000. True Wealth Design LLC increased its stake in shares of Penske Automotive Group by 14,833.3% in the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after buying an additional 445 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Penske Automotive Group in the fourth quarter valued at $76,000. Finally, TD Waterhouse Canada Inc. boosted its stake in Penske Automotive Group by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 531 shares of the company’s stock valued at $81,000 after acquiring an additional 158 shares during the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Penske Automotive Group Stock Performance

The company’s fifty day simple moving average is $162.15 and its two-hundred day simple moving average is $159.34. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 10.25 and a beta of 1.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.20 and a current ratio of 0.91.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a return on equity of 18.05% and a net margin of 3.02%. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. Equities research analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, February 24th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.19. This represents a $4.88 annualized dividend and a yield of 3.46%. Penske Automotive Group’s dividend payout ratio (DPR) is 35.49%.

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.