Penske Automotive Group (NYSE:PAG) had its target price lifted by Morgan Stanley from $54.00 to $57.00 in a research report report published on Friday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the stock.
A number of other brokerages have also issued reports on PAG. Zacks Investment Research upgraded shares of Penske Automotive Group from a sell rating to a hold rating and set a $46.00 target price for the company in a research report on Tuesday, May 28th. ValuEngine lowered shares of Penske Automotive Group from a hold rating to a sell rating in a research report on Thursday, July 11th. Finally, Northcoast Research reiterated a buy rating on shares of Penske Automotive Group in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $54.17.
PAG traded up $0.55 on Friday, reaching $45.37. The company had a trading volume of 328,051 shares, compared to its average volume of 348,618. The firm has a fifty day moving average of $46.41. The stock has a market cap of $3.85 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.84 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.22. Penske Automotive Group has a one year low of $38.49 and a one year high of $53.84.
Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.17). The company had revenue of $5.76 billion during the quarter, compared to the consensus estimate of $5.90 billion. Penske Automotive Group had a net margin of 2.00% and a return on equity of 16.56%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. Sell-side analysts forecast that Penske Automotive Group will post 5.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Friday, August 9th will be given a dividend of $0.40 per share. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.60 annualized dividend and a dividend yield of 3.53%. Penske Automotive Group’s dividend payout ratio (DPR) is 29.21%.
In other news, EVP Shane M. Spradlin sold 2,656 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $44.05, for a total transaction of $116,996.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Robert H. Kurnick, Jr. sold 8,579 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $46.05, for a total transaction of $395,062.95. Following the transaction, the president now owns 98,509 shares of the company’s stock, valued at approximately $4,536,339.45. The disclosure for this sale can be found here. Company insiders own 42.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Sageworth Trust Co purchased a new stake in Penske Automotive Group during the first quarter valued at about $27,000. Signaturefd LLC lifted its stake in Penske Automotive Group by 90.5% during the second quarter. Signaturefd LLC now owns 878 shares of the company’s stock valued at $42,000 after buying an additional 417 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Penske Automotive Group during the first quarter valued at about $125,000. Advisory Services Network LLC lifted its stake in Penske Automotive Group by 8,888.1% during the second quarter. Advisory Services Network LLC now owns 3,775 shares of the company’s stock valued at $179,000 after buying an additional 3,733 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in Penske Automotive Group during the first quarter valued at about $314,000. Institutional investors own 44.02% of the company’s stock.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It 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 primarily in Australia and New Zealand.
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