On Wednesday, Penske Automotive cleared a key performance benchmark, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an upgrade to 83, a rise from 80 the day before.
Hone Your Stock-Picking Skills By Focusing On These Factors
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains often have an RS Rating north of 80 as they launch their biggest runs.
While it's not currently an ideal time to jump in, see if the stock is able to offer and clear an appropriate buy point.
Earnings growth rose in the company's latest report from 3% to 6%, but revenue fell from 6% to 2%. Keep an eye out for the company's next round of numbers on or around Jul. 23.
The company earns the No. 6 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Carvana Cl A, OPENLANE and Group 1 Automotive are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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