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

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

Several equities research analysts have issued reports on PAG shares. Bank of America lifted their price target on shares of Penske Automotive Group from $200.00 to $238.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Citigroup cut Penske Automotive Group from a “buy” rating to a “neutral” rating and raised their price objective for the company from $199.00 to $210.00 in a report on Thursday, July 23rd. Stephens lifted their target price on Penske Automotive Group from $166.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Benchmark lowered Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, UBS Group reissued a “neutral” rating and set a $212.00 price target on shares of Penske Automotive Group in a research report on Friday, October 16th.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $212.23 on Friday. The stock has a market cap of $13.94 billion, a PE ratio of 16.55 and a beta of 0.92. Penske Automotive Group has a one year low of $140.12 and a one year high of $227.00. 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 stock has a 50-day moving average of $211.27 and a 200-day moving average of $191.51.

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

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $1.46 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.44. This represents a $5.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 13th. Penske Automotive Group’s dividend payout ratio (DPR) is 42.42%.

Hedge Funds Weigh In On Penske Automotive Group

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Penske Automotive Group in the second quarter valued at $417,516,000. Dimensional Fund Advisors LP grew its position in shares of Penske Automotive Group by 11.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,447,910 shares of the company’s stock valued at $216,489,000 after acquiring an additional 154,443 shares during the period. Diamant Asset Management Inc. grew its position in shares of Penske Automotive Group by 14,852.0% in the 1st quarter. Diamant Asset Management Inc. now owns 884,411 shares of the company’s stock valued at $132,237,000 after acquiring an additional 878,496 shares during the period. Bank of America Corp DE acquired a new position in shares of Penske Automotive Group during the 2nd quarter worth about $79,065,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Penske Automotive Group during the 2nd quarter worth about $67,822,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

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.