Penske Automotive saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, rising from 66 to 71.
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IBD's proprietary RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves. See if Penske Automotive can continue to rebound and clear that threshold.
Penske Automotive is trying to complete a consolidation with a 180.12 buy point. See if the stock can clear the breakout price in heavy volume.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -15% to 3%. Revenue rose from 2% to 6%. Keep an eye out for the company's next round of numbers on or around Apr. 30.
The company holds the No. 9 rank among its peers in the Retail/Wholesale-Auto Parts industry group. Carvana Cl A, Group 1 Automotive and OPENLANE 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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