Report: Numerous Factors Driving Optimism for Top U.S. Dealerships
April 17, 2017--Stock-Callers.com has initiated reports coverage on CarMax Inc, AutoNation Inc., Copart Inc., and Penske Automotive Group Inc. According to The Blue Sky Report, a Kerrigan Quarterly, an increase in serious sellers coming back into the market, improved valuations, private buyer demand for large acquisitions and advantageous market fluctuations are driving optimism for a robust 2017 for the US Auto Dealerships industry.
Last Thursday, CarMax Inc.'s stock dropped 1.55%, to close the day at $55.37 with a total trading volume of 1.93 million shares. The company's shares are trading 6.05% below their 200-day moving average. Shares of the company, which through its subsidiaries, operates as a retailer of used vehicles in the US, have a Relative Strength Index (RSI) of 29.59.
Shares in Fort Lauderdale, Florida headquartered AutoNation Inc. saw a drop of 1.60%, finishing Thursday's session at $39.43. The stock recorded a trading volume of 1.36 million shares, which was above its three months average volume of 1.08 million shares. The company's shares are trading below their 50-day moving average by 12.46%. Furthermore, shares of AutoNation, which through its subsidiaries, operates as an automotive retailer in the US, have an RSI of 28.65.
Dallas, Texas headquartered Copart Inc.'s stock finished 0.60% lower at $29.65 last Thursday at the close. A total volume of 1.78 million shares was traded, which was higher than their three months average volume of 519,020 shares. The company's shares have advanced 4.33% in the previous three months and 7.02% on an YTD basis. The stock is trading above its 200-day moving average by 8.20%. Additionally, shares of Copart, which provides online auctions and vehicle remarketing services, have an RSI of 40.42.
Bloomfield Hills, Mich., headquartered Penske Automotive Group Inc.'s shares ended the session 1.72% lower at $44.06 with a total trading volume of 420,718 shares. The stock is trading 5.07% below its 200-day moving average. Shares of the company, which operates as a transportation services company, have an RSI of 33.11.
On April 10, 2017, Penske Automotive Group announced that it has acquired Schumacher European, LTD, a Mercedes-Benz and Sprinter dealership in Phoenix, Arizona. This new dealership is located contiguous to the company's Scottsdale 101 Auto Collection, which currently represents fifteen franchises.