Penske Automotive Group (NYSE:PAG) Given New $165.00 Price Target at JPMorgan Chase & Co.

Penske Automotive Group (NYSE:PAG) had its target price raised by JPMorgan Chase & Co. from $160.00 to $165.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts also recently issued reports about the stock. Benchmark started coverage on shares of Penske Automotive Group in a report on Thursday, December 12th. They issued a “buy” rating on the stock. Stephens reissued an “equal weight” rating and set a $165.00 price objective on shares of Penske Automotive Group in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.50.

Penske Automotive Group Stock Performance

NYSE:PAG opened at $163.54 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.20. Penske Automotive Group has a 1 year low of $142.32 and a 1 year high of $180.12. The stock’s 50 day simple moving average is $161.04 and its two-hundred day simple moving average is $160.52. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 11.89 and a beta of 1.20.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $3.54 earnings per share 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 for the quarter, compared to analysts’ expectations of $7.56 billion. As a group, equities analysts anticipate that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.98%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, February 24th. Penske Automotive Group’s dividend payout ratio is presently 34.62%.

Insider Activity at Penske Automotive Group

In other Penske Automotive Group news, EVP Claude H. Denker III sold 8,746 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 28,917 shares of the company’s stock, valued at $5,003,508.51. This represents a 23.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 51.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Penske Automotive Group

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Penske Automotive Group by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 262 shares of the company’s stock worth $40,000 after purchasing an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Penske Automotive Group in the 4th quarter worth about $40,000. True Wealth Design LLC grew its stake in Penske Automotive Group by 14,833.3% in the 3rd quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after acquiring an additional 445 shares in the last quarter. Transamerica Financial Advisors Inc. grew its stake in Penske Automotive Group by 45,300.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Penske Automotive Group in the fourth quarter worth approximately $76,000. Institutional investors own 77.08% of the company’s stock.

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.