CarMax, Inc (NYSE:KMX) – Equities researchers at Wedbush lifted their Q1 2020 earnings estimates for CarMax in a research note issued to investors on Monday, April 1st, Zacks Investment Research reports. Wedbush analyst S. Basham now anticipates that the company will earn $1.47 per share for the quarter, up from their previous forecast of $1.46. Wedbush currently has a “Neutral” rating and a $60.00 target price on the stock. Wedbush also issued estimates for CarMax’s Q3 2020 earnings at $1.13 EPS and Q4 2020 earnings at $1.16 EPS.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday. Morgan Stanley boosted their target price on shares of CarMax from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Credit Suisse Group boosted their target price on shares of CarMax from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Buckingham Research boosted their target price on shares of CarMax from $76.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $83.00 to $93.00 in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. CarMax has a consensus rating of “Buy” and a consensus price target of $82.36.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, March 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.36 billion. CarMax had a net margin of 4.64% and a return on equity of 24.67%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS.
Several large investors have recently bought and sold shares of KMX. Quantamental Technologies LLC bought a new stake in shares of CarMax in the 4th quarter valued at $27,000. Citizens Financial Group Inc RI bought a new stake in shares of CarMax in the 4th quarter valued at $33,000. Liberty Wealth Management LLC bought a new stake in shares of CarMax in the 1st quarter valued at $39,000. Private Capital Group LLC boosted its stake in shares of CarMax by 35.3% in the 4th quarter. Private Capital Group LLC now owns 721 shares of the company’s stock valued at $45,000 after purchasing an additional 188 shares during the last quarter. Finally, Semmax Financial Advisors Inc. acquired a new position in shares of CarMax during the 4th quarter valued at $48,000.
In other news, EVP Eric M. Margolin sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $77.74, for a total value of $1,554,800.00. Following the sale, the executive vice president now directly owns 35,160 shares of the company’s stock, valued at approximately $2,733,338.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 360,006 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $71.18, for a total transaction of $25,625,227.08. Following the completion of the sale, the director now directly owns 511,879 shares in the company, valued at $36,435,547.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,655 shares of company stock worth $27,437,638. Insiders own 1.97% of the company’s stock.
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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