CarMax, Inc. (NYSE:KMX) – Equities researchers at Seaport Global Securities dropped their FY2022 EPS estimates for shares of CarMax in a note issued to investors on Monday, April 5th. Seaport Global Securities analyst G. Chin now forecasts that the company will earn $5.73 per share for the year, down from their prior forecast of $5.77. Seaport Global Securities currently has a “Neutral” rating on the stock.
A number of other research analysts also recently issued reports on KMX. JPMorgan Chase & Co. downgraded CarMax from an “overweight” rating to a “neutral” rating and set a $115.00 price target on the stock. in a research note on Wednesday, December 9th. Royal Bank of Canada raised their price target on CarMax from $140.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday. Stephens lifted their target price on CarMax from $130.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday. Wedbush lifted their target price on CarMax from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 17th. Finally, Argus lifted their target price on CarMax from $105.00 to $110.00 in a research note on Monday, December 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $122.57.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, March 31st. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.17 billion. CarMax had a return on equity of 20.30% and a net margin of 4.01%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS.
A number of hedge funds have recently modified their holdings of the stock. Spotlight Asset Group Inc. acquired a new position in CarMax during the first quarter worth $207,000. Woodstock Corp acquired a new position in shares of CarMax in the first quarter worth $239,000. Fulton Bank N.A. acquired a new position in shares of CarMax in the first quarter worth $217,000. Koshinski Asset Management Inc. acquired a new position in shares of CarMax in the fourth quarter worth $230,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of CarMax by 3.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 17,052 shares of the company’s stock worth $1,563,000 after acquiring an additional 552 shares during the last quarter. 97.59% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO William D. Nash sold 58,674 shares of CarMax stock in a transaction on Tuesday, January 12th. The stock was sold at an average price of $106.23, for a total transaction of $6,232,939.02. Following the completion of the transaction, the chief executive officer now directly owns 175,674 shares of the company’s stock, valued at $18,661,849.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Eric M. Margolin sold 15,000 shares of CarMax stock in a transaction on Friday, January 8th. The stock was sold at an average price of $102.51, for a total value of $1,537,650.00. Following the transaction, the executive vice president now directly owns 39,440 shares of the company’s stock, valued at $4,042,994.40. The disclosure for this sale can be found here. Insiders sold a total of 401,275 shares of company stock valued at $46,173,632 over the last three months. Insiders own 2.09% of the company’s stock.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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