Shares of Penske Automotive Group, Inc. (NYSE:PAG – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $208.50.
A number of analysts have weighed in on the company. Stephens increased their target price on Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. UBS Group set a $190.00 price target on shares of Penske Automotive Group in a research note on Friday, July 10th. Benchmark lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Penske Automotive Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Finally, Citigroup downgraded shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $199.00 to $210.00 in a research note on Thursday, July 23rd.
Penske Automotive Group Stock Up 0.6%
Penske Automotive Group (NYSE:PAG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping 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 the consensus estimate of $7.98 billion. During the same period in the prior year, the business posted $3.78 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that Penske Automotive Group will post 13.61 EPS for the current year.
Penske Automotive Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $1.44 dividend. This represents a $5.76 annualized dividend and a yield of 2.6%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, August 14th. Penske Automotive Group’s payout ratio is currently 42.42%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings in shares of Penske Automotive Group by 14,982.0% in the 2nd quarter. California State Teachers Retirement System now owns 3,677,601 shares of the company’s stock worth $658,107,000 after buying an additional 3,653,217 shares during the period. BlackRock Inc. bought a new stake in shares of Penske Automotive Group in the second quarter valued at about $417,516,000. Victory Capital Management Inc. raised its holdings in shares of Penske Automotive Group by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,484,075 shares of the company’s stock valued at $234,914,000 after acquiring an additional 92,794 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Penske Automotive Group by 11.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock worth $216,489,000 after acquiring an additional 154,443 shares during the period. Finally, Diamant Asset Management Inc. lifted its stake in Penske Automotive Group by 14,852.0% in the first quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock worth $132,237,000 after acquiring an additional 878,496 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.
Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.
Featured Stories
- Five stocks we like better than Penske Automotive Group
- Striking Oil: How the U.S. Play for Venezuela Fuels Supermajors
- J.M. Smucker Stock’s Rally Has More Than Tariffs Behind It
- Wendy’s Rally Fades After Trian Steps Back: Was It Ever Real?
- GitLab’s Earnings Beat Just Gave Software Bulls a New SaaSpocalypse Test
Receive News & Ratings for Penske Automotive Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penske Automotive Group and related companies with MarketBeat.com's FREE daily email newsletter.
