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Do Traders Think Penske Automotive Group, Inc. (PAG) Can Turn Around Thursday?

Thursday, September 29, 2022 12:14 PM | InvestorsObserver Analysts
Do Traders Think Penske Automotive Group, Inc. (PAG) Can Turn Around Thursday?

Overall market sentiment has been high on Penske Automotive Group, Inc. (PAG) stock lately. PAG receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
Penske Automotive Group, Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on PAG!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With PAG Stock Today?

Penske Automotive Group, Inc. (PAG) stock is trading at $97.71 as of 12:06 PM on Thursday, Sep 29, a drop of -$9.43, or -8.8% from the previous closing price of $107.14. The stock has traded between $94.49 and $100.57 so far today. Volume today is 562,520 compared to average volume of 470,223. To screen for more stocks like Penske Automotive Group, Inc. click here.

More About Penske Automotive Group, Inc.

Penske Automotive Group operates in about 20 U.S. states and overseas. It has 152 U.S. light-vehicle stores including in Puerto Rico as well as 180 franchised dealerships overseas, primarily in the United Kingdom. The company is the second-largest U.S.-based dealership in terms of light-vehicle revenue and sells more than 35 brands, with over 90% of retail automotive revenue coming from luxury and import names. Other services, in addition to new and used vehicles, are parts and repair and finance and insurance. The firm's Premier Truck Group owns 39 truck dealerships selling mostly Freightliner and Western Star brands, and Penske owns 21 CarShop used-vehicle stores in the U.S. and U.K. The company is based in Michigan and was called United Auto Group before changing its name in 2007. Click Here to get the full Stock Report for Penske Automotive Group, Inc. stock.

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