Penske Automotive Group, Inc. (PAG) Given Average Recommendation of “Buy” by Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have been assigned an average rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.57.

A number of research firms recently commented on PAG. Zacks Investment Research cut shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Bank of America lifted their price target on shares of Penske Automotive Group from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Gabelli lifted their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, October 26th.

Penske Automotive Group (PAG) traded down $0.27 during trading hours on Tuesday, hitting $47.86. 176,094 shares of the company were exchanged, compared to its average volume of 546,260. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.22. The company has a market cap of $4,128.02, a PE ratio of 6.72, a PEG ratio of 1.22 and a beta of 1.46. Penske Automotive Group has a 52 week low of $38.33 and a 52 week high of $54.83.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Penske Automotive Group had a net margin of 2.87% and a return on equity of 17.67%. Penske Automotive Group’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. sell-side analysts anticipate that Penske Automotive Group will post 4.96 EPS for the current year.

Penske Automotive Group declared that its board has authorized a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, February 9th. Penske Automotive Group’s payout ratio is currently 19.05%.

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in Penske Automotive Group by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after buying an additional 175 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Penske Automotive Group by 5.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,390 shares of the company’s stock valued at $676,000 after buying an additional 850 shares in the last quarter. Pacer Advisors Inc. grew its stake in Penske Automotive Group by 19.9% in the 3rd quarter. Pacer Advisors Inc. now owns 7,017 shares of the company’s stock valued at $334,000 after buying an additional 1,163 shares in the last quarter. Commonwealth Bank of Australia grew its stake in Penske Automotive Group by 7.0% in the 3rd quarter. Commonwealth Bank of Australia now owns 18,302 shares of the company’s stock valued at $867,000 after buying an additional 1,200 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in Penske Automotive Group by 17.7% in the 3rd quarter. Advisor Group Inc. now owns 8,607 shares of the company’s stock valued at $410,000 after buying an additional 1,292 shares in the last quarter. Institutional investors and hedge funds own 43.15% of the company’s stock.

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Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.

Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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