Penkse Automotive Group Inc’s (PAG) stock has been continually talked about over the last few weeks. The Penske team is very pleased by its stock performance, especially as we head into the July 21st second quarter financial results conference call.
Stock analysts, like Moody’s Investors Service, has upgraded Penske Automotive Group Inc.’s speculative-grade rating a notch, citing the auto dealer’s improving performance amid a rebound in new car sales. Moody’s upgraded ranking may be a result of the PAG stock being at its 52-week performance high on July 7, 2011 at $23.94. This praise may also come from Penske Auto’s recent acquisition of Crevier BMW and MINI. While it is unclear what the cost of this recent transaction was, it’s evident that the new BMW and Mini locations will certainly add to the estimated Penske annual revenue of approximately $275 million.
In the past year, the stock has hit a 52-week low of $11.62, and a 52-week high of $23.94. Penske Automotive’s stock has been showing support around $22.76 and resistance in the $23.90 range. Technical indicators for the stock are Bullish, and S&P gives Penske Automotive a neutral 3 STARS (out of 5) hold rating. Penske Automotive has a current annual dividend yield of 0.31%, has a market cap of $2.1 billion, and is part of the services and specialty retail industry. Shares are up 28.6% year to date. Overall, the company has a P/E ratio of 16.9, below the average specialty retail industry P/E ratio of 17.2, and below the S&P 500 P/E ratio of 17.7.
If you are interested in the Penske Automotive Group stock, go to investors.penskeautomotive.com/, and consider speaking with your financial advisor.
