CarMax Sees Strong Trading Volume After Strong Earnings (KMX)
Shares of CarMax (NYSE:KMX) saw unusually-high trading volume on Monday following a stronger than expected earnings report, American Banking & Market News reports. Approximately 2,642,140 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 2,196,292 shares.The stock last traded at $51.86 and had previously closed at $52.75.
The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the company posted $0.64 earnings per share. CarMax’s revenue was up 13.3% compared to the same quarter last year.
KMX has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of CarMax from $49.00 to $54.00 in a research note on Monday. They now have a “sector perform” rating on the stock. Separately, analysts at William Blair upgraded shares of CarMax from a “market perform” rating to an “outperform” rating in a research note on Friday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of CarMax in a research note on Friday, May 9th. They now have a $47.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $51.50.
The stock’s 50-day moving average is $45.09 and its 200-day moving average is $46.41. The company has a market cap of $11.413 billion and a price-to-earnings ratio of 23.18.
CarMax, Inc (NYSE:KMX) is a holding company and its operations are conducted through its subsidiaries.
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