Penske Automotive Group, Inc. (PAG) Downgraded to “Hold” at ValuEngine

ValuEngine lowered shares of Penske Automotive Group, Inc. (NYSE:PAG) from a buy rating to a hold rating in a research note published on Friday, September 1st.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company reiterated a market perform rating and issued a $46.00 price target (down previously from $54.00) on shares of Penske Automotive Group in a research report on Monday, July 17th. BidaskClub upgraded shares of Penske Automotive Group from a sell rating to a hold rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Penske Automotive Group from a sell rating to a hold rating in a research report on Thursday, July 27th. Finally, Morgan Stanley cut their price objective on shares of Penske Automotive Group from $54.00 to $50.00 and set an overweight rating for the company in a research report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $52.67.

Shares of Penske Automotive Group (NYSE:PAG) traded up 1.58% on Friday, hitting $44.91. The stock had a trading volume of 447,349 shares. The stock has a market cap of $3.86 billion, a PE ratio of 10.71 and a beta of 1.46. Penske Automotive Group has a 12 month low of $38.33 and a 12 month high of $56.05. The company has a 50 day moving average price of $41.93 and a 200-day moving average price of $44.28.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The business had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Penske Automotive Group will post $4.31 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 10th were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 8th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.85%. Penske Automotive Group’s dividend payout ratio is 30.55%.

In other news, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the transaction, the executive vice president now directly owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 40.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PAG. FNY Managed Accounts LLC acquired a new stake in Penske Automotive Group in the 1st quarter valued at about $100,000. The Manufacturers Life Insurance Company lifted its holdings 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 purchasing an additional 175 shares in the last quarter. Meadow Creek Investment Management LLC purchased a new position in Penske Automotive Group in the 1st quarter valued at about $113,000. Bank of Montreal Can lifted its holdings in Penske Automotive Group by 10.9% in the 1st quarter. Bank of Montreal Can now owns 2,787 shares of the company’s stock valued at $131,000 after purchasing an additional 275 shares in the last quarter. Finally, Glen Harbor Capital Management LLC purchased a new position in Penske Automotive Group in the 1st quarter valued at about $137,000. 39.85% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Penske Automotive Group (NYSE:PAG)

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