Penske Automotive Group, Inc. (PAG) Receives $56.80 Consensus PT from Analysts

Penske Automotive Group, Inc. (NYSE:PAG) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $56.80.

Several equities analysts recently commented on PAG shares. JPMorgan Chase & Co. started coverage on Penske Automotive Group in a research note on Tuesday, February 19th. They issued a “neutral” rating and a $51.00 target price for the company. ValuEngine lowered Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Finally, Seaport Global Securities started coverage on Penske Automotive Group in a research note on Wednesday, February 13th. They issued a “buy” rating and a $61.00 target price for the company.

In related news, Director John Barr sold 5,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $44.31, for a total value of $221,550.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $797,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 42.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $30,000. Parallel Advisors LLC grew its position in Penske Automotive Group by 473.8% during the fourth quarter. Parallel Advisors LLC now owns 1,050 shares of the company’s stock valued at $42,000 after acquiring an additional 867 shares during the period. Omnia Family Wealth LLC purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $43,000. Quantamental Technologies LLC purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $89,000. Finally, Pearl River Capital LLC purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $103,000. 43.65% of the stock is owned by hedge funds and other institutional investors.

NYSE PAG opened at $44.65 on Wednesday. Penske Automotive Group has a fifty-two week low of $38.49 and a fifty-two week high of $53.84. The firm has a market capitalization of $3.76 billion, a PE ratio of 8.36, a P/E/G ratio of 1.78 and a beta of 1.37. The company has a quick ratio of 0.21, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 7th. The company reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.05). The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.57 billion. Penske Automotive Group had a return on equity of 17.73% and a net margin of 2.07%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. As a group, research analysts predict that Penske Automotive Group will post 5.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 11th were paid a $0.38 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, February 8th. Penske Automotive Group’s dividend payout ratio is presently 28.46%.

About Penske Automotive Group

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe; and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services primarily in Australia and New Zealand.

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Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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