Penske Automotive Group (NYSE:PAG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Penske Automotive Group (NYSE:PAG) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other research analysts have also weighed in on PAG. Citigroup began coverage on shares of Penske Automotive Group in a research note on Wednesday. They issued a “buy” rating and a $185.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $165.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $165.00 target price on shares of Penske Automotive Group in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $170.00.

Penske Automotive Group Stock Up 0.1 %

Penske Automotive Group stock opened at $154.84 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.91 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $10.34 billion, a PE ratio of 11.26 and a beta of 1.03. The firm’s fifty day moving average is $155.44 and its 200 day moving average is $158.06. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $180.12.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, February 13th. The company reported $3.54 EPS 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 company had revenue of $7.72 billion during the quarter, compared to the consensus estimate of $7.56 billion. As a group, sell-side analysts predict that Penske Automotive Group will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $1.22 per share. The ex-dividend date was Monday, February 24th. This represents a $4.88 annualized dividend and a yield of 3.15%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. Penske Automotive Group’s dividend payout ratio is presently 35.49%.

Insider Buying and Selling

In other news, Director John Barr sold 1,529 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $155.45, for a total transaction of $237,683.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claude H. Denker III sold 8,746 shares of Penske Automotive Group stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the sale, the executive vice president now directly owns 28,917 shares of the company’s stock, valued at approximately $5,003,508.51. This trade represents a 23.22 % decrease in their position. The disclosure for this sale can be found here. 51.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Penske Automotive Group

Several institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its stake in shares of Penske Automotive Group by 39.1% during the 3rd quarter. Stifel Financial Corp now owns 2,986 shares of the company’s stock valued at $485,000 after buying an additional 839 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Penske Automotive Group during the third quarter worth $284,000. Sanctuary Advisors LLC bought a new position in shares of Penske Automotive Group in the third quarter worth $415,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Penske Automotive Group in the third quarter valued at $94,000. Finally, Tidal Investments LLC grew its position in shares of Penske Automotive Group by 5.1% in the third quarter. Tidal Investments LLC now owns 1,830 shares of the company’s stock valued at $297,000 after purchasing an additional 88 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

About Penske Automotive Group

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.