CarMax (NYSE:KMX) Announces Earnings Results

CarMax (NYSE:KMX) issued its quarterly earnings results on Friday. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.20, RTT News reports. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.58 billion. CarMax had a net margin of 1.90% and a return on equity of 8.22%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share.

CarMax Price Performance

Shares of NYSE KMX opened at $68.66 on Friday. CarMax has a fifty-two week low of $61.34 and a fifty-two week high of $91.25. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.14 and a beta of 1.38. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.52 and a current ratio of 2.31. The firm’s 50-day simple moving average is $65.60 and its 200 day simple moving average is $75.41.

Insider Activity at CarMax

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now owns 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On CarMax

Several large investors have recently added to or reduced their stakes in KMX. Acadian Asset Management LLC purchased a new stake in CarMax in the 1st quarter valued at about $727,000. Intech Investment Management LLC increased its stake in CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after buying an additional 7,307 shares during the last quarter. Empowered Funds LLC increased its stake in CarMax by 12.5% in the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after buying an additional 585 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after buying an additional 173 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after buying an additional 161 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on KMX shares. JPMorgan Chase & Co. cut their price target on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Robert W. Baird cut their price objective on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Cfra Research raised shares of CarMax to a “strong-buy” rating in a research report on Thursday, April 10th. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of CarMax in a research report on Wednesday. Finally, Needham & Company LLC cut their price objective on shares of CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average price target of $86.40.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.