Penske Auto Group traded at a new 52-week high today of $27.58. So far today approximately 87,000 shares have been exchanged, as compared to an average 30-day volume of 485,000 shares.
Penske Automotive Group, Inc. operates franchised automobile dealerships. The Company’s franchises are located throughout the United States, Puerto Rico and the United Kingdom. Penske Automotive sells new and used vehicles as well as offers maintenance and repair services on all brands it represents.
In the past 52 weeks, shares of Penske Auto Group have traded between a low of $14.87 and a high of $27.58 and are now at $27.07, which is 82% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.4%.
Potential upside of 13.3% exists for Penske Auto Group, based on a current level of $27.07 and analysts’ average consensus price target of $30.67. The stock should discover initial support at its 50-day moving average (MA) of $24.76 and subsequent support at its 200-day MA of $21.04.
SmarTrend recommended that subscribers consider buying shares of Penske Auto Group on January 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.09. Since that recommendation, shares of Penske Auto Group have risen 27.4%. We continue to monitor PAG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
[Source: MySmartTrend.com]
