Penske Automotive Group’s (PAG) “Equal Weight” Rating Reiterated at Stephens

Stephens restated their equal weight rating on shares of Penske Automotive Group (NYSE:PAG) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $165.00 target price on the stock.

Separately, Benchmark began coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $172.50.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $168.12 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 12.23 and a beta of 1.20. The firm has a 50-day moving average of $161.04 and a two-hundred day moving average of $160.51. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $180.12.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results 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. The firm had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. On average, research analysts forecast that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Monday, February 24th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is currently 34.62%.

Insider Buying and Selling

In related news, EVP Claude H. Denker III sold 8,746 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This trade represents a 23.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 51.70% of the stock is owned by company insiders.

Institutional Trading of Penske Automotive Group

Several large investors have recently bought and sold shares of the stock. Wealthspire Advisors LLC raised its holdings in shares of Penske Automotive Group by 2.4% during the fourth quarter. Wealthspire Advisors LLC now owns 2,738 shares of the company’s stock worth $417,000 after purchasing an additional 63 shares during the last quarter. CIBC Asset Management Inc grew its position in Penske Automotive Group by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 1,946 shares of the company’s stock worth $316,000 after purchasing an additional 69 shares during the period. Blue Chip Partners LLC raised its stake in shares of Penske Automotive Group by 0.7% during the 4th quarter. Blue Chip Partners LLC now owns 10,606 shares of the company’s stock valued at $1,617,000 after buying an additional 73 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Penske Automotive Group by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock valued at $40,000 after buying an additional 81 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Penske Automotive Group by 0.5% in the third quarter. Quantinno Capital Management LP now owns 16,648 shares of the company’s stock worth $2,704,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

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.