CarMax, Inc. (NYSE:KMX) – Research analysts at Wedbush dropped their Q1 2022 earnings per share (EPS) estimates for CarMax in a research report issued on Monday, April 5th. Wedbush analyst S. Basham now forecasts that the company will earn $1.71 per share for the quarter, down from their previous forecast of $1.84. Wedbush currently has a “Outperform” rating and a $140.00 target price on the stock. Wedbush also issued estimates for CarMax’s Q2 2022 earnings at $1.59 EPS, Q3 2022 earnings at $1.26 EPS and Q4 2022 earnings at $1.34 EPS.
A number of other equities research analysts have also recently weighed in on the company. Seaport Global Securities cut CarMax from a “buy” rating to a “neutral” rating in a report on Wednesday, March 31st. JPMorgan Chase & Co. cut CarMax from an “overweight” rating to a “neutral” rating and set a $115.00 price target on the stock. in a report on Wednesday, December 9th. Northcoast Research upgraded CarMax from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Tuesday, January 19th. Robert W. Baird increased their target price on CarMax from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday. Finally, Stephens increased their target price on CarMax from $130.00 to $154.00 and gave the company an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. CarMax presently has a consensus rating of “Buy” and an average price target of $122.57.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, March 31st. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.17 billion. CarMax had a return on equity of 20.30% and a net margin of 4.01%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS.
In other CarMax news, CEO William D. Nash sold 100,000 shares of the company’s stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $123.14, for a total transaction of $12,314,000.00. Following the completion of the sale, the chief executive officer now directly owns 217,000 shares in the company, valued at $26,721,380. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric M. Margolin sold 15,000 shares of CarMax stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $102.51, for a total value of $1,537,650.00. Following the completion of the transaction, the executive vice president now directly owns 39,440 shares in the company, valued at $4,042,994.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 401,275 shares of company stock worth $46,173,632. Corporate insiders own 2.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Concord Wealth Partners acquired a new position in CarMax during the fourth quarter valued at approximately $27,000. Capital Asset Advisory Services LLC purchased a new position in shares of CarMax in the 4th quarter valued at $31,000. AXA S.A. acquired a new position in shares of CarMax during the 3rd quarter valued at $33,000. First Horizon Advisors Inc. acquired a new position in shares of CarMax during the 4th quarter valued at $38,000. Finally, Eudaimonia Partners LLC acquired a new position in shares of CarMax during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 97.59% of the company’s stock.
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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