Penske Automotive Group, Inc. (NYSE:PAG) Stock Has Consensus Target Price of $211.43

Penske Automotive Group, Inc. (NYSE:PAG) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $211.43.

Several equities research analysts recently weighed in on the company. UBS Group reissued a “neutral” rating and issued a $212.00 price objective on shares of Penske Automotive Group in a report on Friday. Stephens boosted their price objective on Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Benchmark downgraded shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Bank of America upped their price objective on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Citigroup lowered shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and increased their target price for the stock from $199.00 to $210.00 in a research report on Thursday, July 23rd.

Institutional Trading of Penske Automotive Group

A number of institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Penske Automotive Group during the second quarter worth $35,000. Core Capital Management & Research inc. bought a new position in shares of Penske Automotive Group in the second quarter worth $43,000. Parkside Financial Bank & Trust boosted its holdings in shares of Penske Automotive Group by 57.1% in the second quarter. Parkside Financial Bank & Trust now owns 245 shares of the company’s stock worth $44,000 after acquiring an additional 89 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Penske Automotive Group by 179.0% in the second quarter. Versant Capital Management Inc now owns 279 shares of the company’s stock worth $50,000 after acquiring an additional 179 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of Penske Automotive Group in the second quarter valued at $53,000. 77.08% of the stock is currently owned by hedge funds and other institutional investors.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $212.34 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. The business has a fifty day simple moving average of $211.52 and a two-hundred day simple moving average of $190.63. Penske Automotive Group has a 1 year low of $140.12 and a 1 year high of $227.00. The company has a market capitalization of $13.94 billion, a P/E ratio of 16.55 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same period in the previous year, the company posted $3.78 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Penske Automotive Group will post 13.42 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a $1.46 dividend. This represents a $5.84 annualized dividend and a dividend yield of 2.8%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.44. The ex-dividend date of this dividend is Friday, November 13th. Penske Automotive Group’s payout ratio is presently 42.42%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.