CarMax, Inc (NYSE:KMX) – Investment analysts at William Blair boosted their Q2 2019 earnings per share estimates for CarMax in a research report issued to clients and investors on Wednesday, September 26th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $1.24 for the quarter, up from their prior forecast of $1.21. William Blair also issued estimates for CarMax’s Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.08 EPS, FY2019 earnings at $4.69 EPS and FY2020 earnings at $5.32 EPS.
A number of other research firms have also issued reports on KMX. TheStreet raised CarMax from a “c+” rating to a “b” rating in a research note on Friday, June 1st. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday, July 10th. Northcoast Research reaffirmed a “buy” rating and issued a $85.00 target price on shares of CarMax in a research note on Thursday, June 28th. ValuEngine raised CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Finally, Gabelli initiated coverage on CarMax in a research note on Wednesday, June 6th. They issued a “buy” rating and a $95.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $84.13.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.65 billion. CarMax had a return on equity of 21.54% and a net margin of 3.98%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS.
Institutional investors have recently modified their holdings of the business. Archford Capital Strategies LLC purchased a new position in shares of CarMax during the 1st quarter worth $100,000. Piedmont Investment Advisors LLC purchased a new position in shares of CarMax during the 2nd quarter worth $149,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of CarMax by 57.7% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock worth $149,000 after purchasing an additional 750 shares during the period. Federated Investors Inc. PA purchased a new position in shares of CarMax during the 2nd quarter worth $189,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of CarMax during the 2nd quarter worth $190,000.
In other CarMax news, SVP Darren C. Newberry sold 1,831 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $73.80, for a total transaction of $135,127.80. Following the transaction, the senior vice president now owns 2,481 shares of the company’s stock, valued at approximately $183,097.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 37,500 shares of the stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $77.37, for a total value of $2,901,375.00. Following the transaction, the director now directly owns 211,879 shares in the company, valued at approximately $16,393,078.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,293 shares of company stock worth $21,903,363. 1.97% of the stock is owned by corporate insiders.
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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