Penske Automotive Group (NYSE:PAG) Reaches New 52-Week Low on Analyst Downgrade

Penske Automotive Group, Inc. (NYSE:PAG)’s stock price hit a new 52-week low on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $165.00 to $140.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Penske Automotive Group traded as low as $140.21 and last traded at $143.84, with a volume of 56760 shares traded. The stock had previously closed at $150.00.

Several other research analysts have also recently weighed in on PAG. Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a report on Tuesday, February 18th. StockNews.com raised Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, Benchmark assumed coverage on Penske Automotive Group in a research note on Thursday, December 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.25.

Insider Transactions at Penske Automotive Group

In other news, Director John Barr sold 1,529 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $155.45, for a total value of $237,683.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claude H. Denker III sold 8,746 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $173.03, for a total value of $1,513,320.38. Following the completion of the transaction, the executive vice president now directly owns 28,917 shares in the company, valued at approximately $5,003,508.51. This represents a 23.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 51.70% of the company’s stock.

Hedge Funds Weigh In On Penske Automotive Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its stake in Penske Automotive Group by 36.9% in the 3rd quarter. Janus Henderson Group PLC now owns 39,569 shares of the company’s stock worth $6,426,000 after purchasing an additional 10,663 shares in the last quarter. Highland Capital Management LLC purchased a new position in Penske Automotive Group during the 4th quarter valued at approximately $240,000. Cerity Partners LLC increased its stake in Penske Automotive Group by 176.1% in the 3rd quarter. Cerity Partners LLC now owns 13,333 shares of the company’s stock worth $2,166,000 after acquiring an additional 8,504 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Penske Automotive Group by 28.3% during the 4th quarter. Blue Trust Inc. now owns 1,221 shares of the company’s stock worth $198,000 after acquiring an additional 269 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Penske Automotive Group during the 4th quarter valued at approximately $287,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 2.4 %

The firm has a market capitalization of $9.41 billion, a PE ratio of 10.25 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $162.15 and its 200 day simple moving average is $159.34.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $3.37 by $0.17. Penske Automotive Group had a net margin of 3.02% and a return on equity of 18.05%. The company had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.56 billion. On average, equities research analysts forecast that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $1.22 dividend. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.88 dividend on an annualized basis and a yield of 3.46%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 35.49%.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.