A number of other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Penske Automotive Group from a hold rating to a strong sell rating in a report on Monday, July 18th. Gabelli cut Penske Automotive Group from a buy rating to a hold rating in a research note on Thursday, September 15th. Seaport Global Securities began coverage on Penske Automotive Group in a research note on Tuesday, August 9th. They issued a neutral rating for the company. Finally, TheStreet raised Penske Automotive Group from a hold rating to a buy rating in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $48.00.
Penske Automotive Group (NYSE:PAG) opened at 48.26 on Friday. The company has a 50 day moving average price of $44.31 and a 200-day moving average price of $38.51. Penske Automotive Group has a 52 week low of $29.29 and a 52 week high of $51.84. The company has a market capitalization of $4.11 billion, a P/E 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 analysts’ consensus estimates of $1.09 by $0.02. The business 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 was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, equities analysts anticipate that Penske Automotive Group will post $3.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 10th were given a dividend of $0.28 per share. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Monday, August 8th. Penske Automotive Group’s dividend payout ratio is currently 29.95%.
In other news, EVP Shane M. Spradlin sold 4,900 shares of the company’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $48.31, for a total transaction of $236,719.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Corp Penske acquired 220,632 shares of Penske Automotive Group stock in a transaction dated Friday, August 5th. The shares were purchased at an average cost of $39.35 per share, with a total value of $8,681,869.20. The disclosure for this purchase can be found here. Insiders own 37.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of Penske Automotive Group during the second quarter valued at approximately $122,000. Panagora Asset Management Inc. bought a new position in shares of Penske Automotive Group during the second quarter valued at approximately $159,000. Teacher Retirement System of Texas boosted its position in shares of 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. boosted its position in shares of 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. bought a new position in shares of Penske Automotive Group during the second quarter valued at approximately $252,000. 40.52% of the stock is owned by institutional investors.
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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