CarMax (NYSE:KMX) Announces Quarterly Earnings Results

CarMax (NYSE:KMX) released its earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13), RTT News reports. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share.

CarMax Price Performance

CarMax stock opened at $71.40 on Friday. The company has a quick ratio of 0.71, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The business has a 50-day simple moving average of $78.80 and a 200 day simple moving average of $72.20. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.09 and a beta of 1.61.

Wall Street Analyst Weigh In

KMX has been the subject of several research reports. Robert W. Baird cut their price target on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Tuesday. Mizuho decreased their price objective on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $83.00 target price on shares of CarMax in a research note on Monday, April 8th. Finally, Bank of America upped their price target on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.67.

Insiders Place Their Bets

In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CarMax news, EVP Diane L. Cafritz sold 2,730 shares of CarMax stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total transaction of $192,574.20. Following the completion of the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at $357,849.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Insiders sold a total of 38,929 shares of company stock valued at $2,740,901 over the last 90 days. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kinneret Advisory LLC lifted its stake in shares of CarMax by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 5,192 shares of the company’s stock valued at $501,000 after acquiring an additional 116 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after acquiring an additional 131 shares during the last quarter. Czech National Bank lifted its stake in shares of CarMax by 0.5% in the 4th quarter. Czech National Bank now owns 27,789 shares of the company’s stock valued at $2,133,000 after acquiring an additional 138 shares during the last quarter. Spire Wealth Management lifted its stake in shares of CarMax by 8.3% in the 4th quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock valued at $146,000 after acquiring an additional 147 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after acquiring an additional 155 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company 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.