Report: Numerous Factors Driving Optimism for Top U.S. Dealerships

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April 17, 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.

Penske Automotive

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. 

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