Penske Automotive Group Inc. (NYSE:PAG) shares traded down 4.4% on Tuesday . The stock traded as low as $38.00 and last traded at $38.04, with a volume of 535,874 shares trading hands. The stock had previously closed at $39.79.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. TheStreet raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, May 27th. Buckingham Research restated a “buy” rating on shares of Penske Automotive Group in a research note on Thursday, May 5th. Finally, Sterne Agee CRT restated a “buy” rating on shares of Penske Automotive Group in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Penske Automotive Group currently has an average rating of “Hold” and a consensus target price of $48.00.

The stock has a market cap of $3.22 billion and a PE ratio of 10.11. The company’s 50-day moving average price is $34.54 and its 200 day moving average price is $35.84.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.02. During the same quarter in the previous year, the business posted $1.04 earnings per share. The firm earned $5.30 billion during the quarter, compared to the consensus estimate of $5.17 billion. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts forecast that Penske Automotive Group Inc. will post $3.90 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 10th will be given a $0.28 dividend. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, August 8th. This represents a $1.12 dividend on an annualized basis and a yield of 2.96%.

In related news, major shareholder Corp Penske purchased 710,121 shares of Penske Automotive Group stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average cost of $39.10 per share, for a total transaction of $27,765,731.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Other hedge funds and institutional investors recently bought and sold shares of the company. Rhumbline Advisers raised its position in Penske Automotive Group by 0.6% in the fourth quarter. Rhumbline Advisers now owns 32,103 shares of the company’s stock valued at $1,359,000 after buying an additional 195 shares in the last quarter. Morgan Stanley raised its position in Penske Automotive Group by 7.9% in the fourth quarter. Morgan Stanley now owns 359,130 shares of the company’s stock valued at $15,205,000 after buying an additional 26,331 shares in the last quarter. Principal Financial Group Inc. raised its position in Penske Automotive Group by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 355,376 shares of the company’s stock valued at $15,047,000 after buying an additional 9,725 shares in the last quarter. Burney Co. raised its position in Penske Automotive Group by 22.9% in the fourth quarter. Burney Co. now owns 43,263 shares of the company’s stock valued at $1,821,000 after buying an additional 8,064 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its position in Penske Automotive Group by 100.0% in the fourth quarter. Atlantic Trust Group LLC now owns 32,000 shares of the company’s stock valued at $1,355,000 after buying an additional 16,000 shares in the last quarter.

Penske Automotive Group, Inc is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles, diesel engines, gas engines, power systems and related parts, and services in Australia and New Zealand.

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