CarMax Inc. (KMX) Posts Quarterly Earnings Results, Meets Estimates
CarMax Inc. (NYSE:KMX) released its quarterly earnings results on Wednesday. The company reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.07 billion. CarMax had a return on equity of 20.54% and a net margin of 4.04%.
Shares of CarMax (NYSE:KMX) opened at 55.76 on Wednesday. The firm has a market cap of $10.68 billion, a P/E ratio of 18.22 and a beta of 1.46. CarMax has a 52 week low of $41.25 and a 52 week high of $60.81. The company’s 50-day moving average price is $58.35 and its 200 day moving average price is $53.56.
KMX has been the topic of a number of research analyst reports. Buckingham Research lowered CarMax from a “buy” rating to a “neutral” rating and increased their price target for the stock from $59.00 to $63.00 in a research report on Friday, September 9th. They noted that the move was a valuation call. Vetr lowered CarMax from a “buy” rating to a “hold” rating and set a $57.52 price target on the stock. in a research report on Monday, September 12th. Oppenheimer Holdings Inc. restated a “buy” rating and set a $60.00 price target on shares of CarMax in a research report on Tuesday, June 7th. Wedbush reiterated a “hold” rating and issued a $44.00 price objective on shares of CarMax in a research report on Thursday, June 16th. Finally, Goldman Sachs Group Inc. set a $63.00 price objective on CarMax and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.47.
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In other CarMax news, CEO Thomas J. Folliard sold 271,435 shares of the business’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $55.39, for a total transaction of $15,034,784.65. Following the sale, the chief executive officer now owns 758,517 shares of the company’s stock, valued at $42,014,256.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Eric M. Margolin sold 12,639 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $60.21, for a total transaction of $760,994.19. Following the sale, the executive vice president now directly owns 38,303 shares in the company, valued at approximately $2,306,223.63. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its stake in CarMax by 111.3% in the second quarter. Panagora Asset Management Inc. now owns 60,457 shares of the company’s stock worth $2,964,000 after buying an additional 31,844 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its stake in CarMax by 2.6% in the second quarter. Zurich Insurance Group Ltd FI now owns 38,040 shares of the company’s stock worth $1,865,000 after buying an additional 970 shares during the last quarter. Guggenheim Capital LLC boosted its stake in CarMax by 12.6% in the second quarter. Guggenheim Capital LLC now owns 430,221 shares of the company’s stock worth $21,094,000 after buying an additional 48,130 shares during the last quarter. Seven Eight Capital LLC bought a new stake in CarMax during the second quarter worth $265,000. Finally, Parametric Portfolio Associates LLC boosted its stake in CarMax by 7.8% in the second quarter. Parametric Portfolio Associates LLC now owns 370,508 shares of the company’s stock worth $18,166,000 after buying an additional 26,717 shares during the last quarter.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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