CarMax, Inc. (NYSE:KMX – Get Rating) – Research analysts at William Blair reduced their Q2 2023 EPS estimates for CarMax in a report issued on Monday, September 19th. William Blair analyst S. Zackfia now anticipates that the company will earn $1.38 per share for the quarter, down from their prior estimate of $1.49. The consensus estimate for CarMax’s current full-year earnings is $5.73 per share. William Blair also issued estimates for CarMax’s Q3 2023 earnings at $1.00 EPS and FY2023 earnings at $5.08 EPS.
A number of other brokerages have also commented on KMX. JPMorgan Chase & Co. cut their price target on CarMax from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, September 9th. Morgan Stanley cut their target price on shares of CarMax from $140.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Royal Bank of Canada upped their price target on shares of CarMax from $104.00 to $108.00 and gave the company an “outperform” rating in a research report on Monday, June 27th. Wedbush lifted their price target on shares of CarMax from $90.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, June 27th. Finally, Bank of America lowered CarMax from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $146.00 to $100.00 in a research report on Friday, September 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $118.56.
CarMax Trading Down 1.6 %
CarMax (NYSE:KMX – Get Rating) last posted its earnings results on Friday, June 24th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.05. CarMax had a net margin of 2.88% and a return on equity of 18.40%. The firm had revenue of $9.31 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share.
Hedge Funds Weigh In On CarMax
Several large investors have recently added to or reduced their stakes in the business. WD Rutherford LLC bought a new position in shares of CarMax in the first quarter valued at approximately $26,000. Whittier Trust Co. boosted its holdings in CarMax by 480.0% during the 1st quarter. Whittier Trust Co. now owns 290 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Curi Wealth Management LLC grew its stake in shares of CarMax by 595.2% in the 2nd quarter. Curi Wealth Management LLC now owns 292 shares of the company’s stock worth $26,000 after acquiring an additional 250 shares in the last quarter. MV Capital Management Inc. raised its holdings in shares of CarMax by 233.7% in the second quarter. MV Capital Management Inc. now owns 297 shares of the company’s stock valued at $27,000 after purchasing an additional 208 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of CarMax during the fourth quarter valued at about $38,000. Institutional investors own 96.11% of the company’s stock.
Insider Buying and Selling
In other CarMax news, EVP Diane L. Cafritz sold 15,555 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $94.75, for a total value of $1,473,836.25. Following the completion of the sale, the executive vice president now directly owns 4,988 shares in the company, valued at $472,613. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CarMax news, EVP Diane L. Cafritz sold 18,092 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $91.06, for a total transaction of $1,647,457.52. Following the completion of the sale, the executive vice president now owns 4,988 shares in the company, valued at approximately $454,207.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane L. Cafritz sold 15,555 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $94.75, for a total transaction of $1,473,836.25. Following the completion of the transaction, the executive vice president now directly owns 4,988 shares in the company, valued at $472,613. The disclosure for this sale can be found here. Insiders sold 37,103 shares of company stock valued at $3,445,847 over the last 90 days. Company insiders own 1.65% of the company’s stock.
CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through 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, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.
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