CarMax, Inc (NYSE:KMX) – Equities research analysts at Oppenheimer increased their FY2019 earnings per share (EPS) estimates for shares of CarMax in a report issued on Wednesday, October 17th, according to Zacks Investment Research. Oppenheimer analyst B. Nagel now anticipates that the company will earn $4.62 per share for the year, up from their previous forecast of $4.60. Oppenheimer also issued estimates for CarMax’s Q4 2019 earnings at $1.06 EPS.
Other equities research analysts have also recently issued research reports about the company. Wedbush set a $87.00 target price on CarMax and gave the stock a “buy” rating in a research note on Thursday, September 27th. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Thursday, September 27th. Morgan Stanley set a $89.00 price target on CarMax and gave the stock a “buy” rating in a report on Wednesday, August 29th. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Robert W. Baird upgraded CarMax from a “neutral” rating to an “outperform” rating in a report on Thursday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $83.93.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, September 26th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. CarMax had a return on equity of 22.26% and a net margin of 4.12%. The business had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis.
In other news, SVP Jon G. Daniels sold 16,325 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $70.88, for a total value of $1,157,116.00. Following the transaction, the senior vice president now owns 16,325 shares in the company, valued at $1,157,116. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mohammad Shamim sold 34,142 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $74.16, for a total value of $2,531,970.72. The disclosure for this sale can be found here. Insiders sold 52,298 shares of company stock worth $3,824,215 in the last 90 days. Corporate insiders own 1.97% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of CarMax by 4.3% in the first quarter. Principal Financial Group Inc. now owns 9,658,783 shares of the company’s stock valued at $598,264,000 after purchasing an additional 402,543 shares in the last quarter. Akre Capital Management LLC lifted its holdings in shares of CarMax by 1.8% in the second quarter. Akre Capital Management LLC now owns 5,254,491 shares of the company’s stock valued at $382,895,000 after purchasing an additional 92,325 shares in the last quarter. Brown Advisory Inc. lifted its holdings in CarMax by 11.4% during the first quarter. Brown Advisory Inc. now owns 2,599,724 shares of the company’s stock worth $161,027,000 after acquiring an additional 266,558 shares during the period. Madison Investment Holdings Inc. lifted its holdings in CarMax by 10.3% during the second quarter. Madison Investment Holdings Inc. now owns 1,324,413 shares of the company’s stock worth $96,510,000 after acquiring an additional 123,536 shares during the period. Finally, Giverny Capital Inc. lifted its holdings in CarMax by 16.3% during the second quarter. Giverny Capital Inc. now owns 1,269,874 shares of the company’s stock worth $92,536,000 after acquiring an additional 178,286 shares during the period.
CarMax Company Profile
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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