Penske Automotive Group Inc. (PAG) Rating Lowered to Hold at Gabelli
PAG has been the subject of several other research reports. Seaport Global Securities began coverage on Penske Automotive Group in a report on Tuesday, August 9th. They set a neutral rating for the company. TheStreet raised Penske Automotive Group from a hold rating to a buy rating in a report on Friday, May 27th. Finally, Zacks Investment Research downgraded Penske Automotive Group from a hold rating to a strong sell rating in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $48.00.
Shares of Penske Automotive Group (NYSE:PAG) opened at 48.26 on Thursday. The firm has a 50-day moving average of $44.31 and a 200 day moving average of $38.51. Penske Automotive Group has a one year low of $29.29 and a one year high of $51.84. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 12.89 and a beta of 1.60.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.09 by $0.02. The company earned $5.30 billion during the quarter, compared to the consensus estimate of $5.17 billion. Penske Automotive Group had a return on equity of 18.75% and a net margin of 1.65%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. Equities research analysts anticipate that Penske Automotive Group will post $3.89 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 10th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.27. Penske Automotive Group’s dividend payout ratio (DPR) is presently 29.95%.
In related news, EVP Shane M. Spradlin sold 4,900 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $48.31, for a total value of $236,719.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Corp Penske acquired 710,121 shares of Penske Automotive Group stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average cost of $39.10 per share, for a total transaction of $27,765,731.10. The disclosure for this purchase can be found here. 37.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in PAG. Pacer Advisors Inc. acquired a new stake in Penske Automotive Group during the second quarter valued at $122,000. Panagora Asset Management Inc. acquired a new stake in Penske Automotive Group during the second quarter valued at $159,000. Teacher Retirement System of Texas raised its stake in Penske Automotive Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,279 shares of the company’s stock valued at $198,000 after buying an additional 763 shares during the period. Suntrust Banks Inc. raised its stake in Penske Automotive Group by 8.0% in the second quarter. Suntrust Banks Inc. now owns 6,675 shares of the company’s stock valued at $208,000 after buying an additional 492 shares during the period. Finally, Pacad Investment Ltd. acquired a new stake in Penske Automotive Group during the second quarter valued at $252,000. 40.52% of the stock is currently owned by institutional investors and hedge funds.
Penske Automotive Group Company Profile
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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