PAG Price Prediction Next Week
Technical Analysis
Based on the technical indicators, PAG is currently trading near its Fibonacci pivot point of $166.85, with immediate resistance at $171.18 and support at $162.51. The RSI reading of 55.61 indicates neutral momentum, suggesting the stock is neither overbought nor oversold.
The stock is trading above both its 20-day moving average ($162.58) and 200-day moving average ($157.08), indicating a generally bullish long-term trend.
News Sentiment Analysis
Recent news shows mixed sentiment for PAG:
Benchmark initiated coverage of Penske Auto Group with a Buy rating and $185 price target, indicating potential upside.
The company demonstrated strong dividend growth performance in 2024, with a 51% increase in dividends. PAG has maintained an almost uninterrupted run of quarterly dividend hikes for over a decade, showing financial strength and commitment to shareholder returns.
Price Prediction for Next Week
Based on technical and fundamental factors:
Target Prices:
- Resistance Level 1: $171.18
- Resistance Level 2: $173.86
- Support Level 1: $162.51
- Support Level 2: $159.84
The stock is likely to trade between $162.51 and $171.18 next week. Given the positive analyst coverage, strong dividend history, and current technical setup showing price above key moving averages, PAG is expected to test the first resistance level at $171.18.
Trading Recommendation
BUY at current levels with a target of $171.18 (first resistance). Place a stop loss at $159.84 (second support) to manage risk.
Rationale:
- Positive analyst coverage with $185 price target
- Strong dividend growth history indicating financial health
- Price trading above key moving averages
- Neutral RSI providing room for upward movement
PAG Similar Chart Price Prediction
The price of PAG is predicted to go up -4.83%, based on the high correlation periods with GPN. The similarity of these two price pattern on the periods is 97.89%.
PAG
GPN
Down: -4.83%Similarity: 97.89%
PAG Revenue Forecast
PAG EPS Forecast
PAG FAQs
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PAG VS S&P500
Auto dealerships are stable, profitable businesses with a diversified stream of earnings coming from parts, service, and used cars.
Parts and service revenue should continue to be lucrative over time because most manufacturers require warranty work to be done at the dealership, and large dealers can more easily afford the technology and training needed to service increasingly more complex vehicles.
Penske is well suited to acquire dealerships because many small dealers do not want to keep paying expensive facility upgrades mandated by the automakers.
PAG Analyst's Forecast
Glenn Chin
Seaport Global
Strong Buy
2024-11-22
Price Target
$165 → $170
Upside
+3.61%
Seaport Research raised the firm's price target on Penske Automotive to $170 from $165 and keeps a Buy rating on the shares. The firm raised its price target on the stock as it transitions to FY25 as the basis for valuations, the analyst tells investors.
Adam Jonas
Morgan Stanley
Sell → Buy
2024-09-25
Price Target
$115 → $180
Upside
+11.72%
