CarMax, Inc (NYSE:KMX) – Equities researchers at Northcoast Research raised their Q3 2019 earnings estimates for CarMax in a report released on Monday, December 3rd. Northcoast Research analyst J. Healy now expects that the company will post earnings per share of $1.02 for the quarter, up from their previous forecast of $1.00. Northcoast Research also issued estimates for CarMax’s Q4 2019 earnings at $0.97 EPS, FY2019 earnings at $4.56 EPS and FY2020 earnings at $5.06 EPS.
KMX has been the subject of a number of other research reports. ValuEngine raised CarMax from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Morgan Stanley set a $89.00 price target on CarMax and gave the company a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Friday, October 5th. Robert W. Baird raised CarMax from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 27th. Finally, Wolfe Research began coverage on CarMax in a research report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $83.93.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 26th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.65 billion. CarMax had a return on equity of 22.26% and a net margin of 4.12%. CarMax’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS.
In other news, SVP Mohammad Shamim sold 34,142 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $74.16, for a total value of $2,531,970.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jon G. Daniels sold 16,325 shares of the 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 completion of the transaction, the senior vice president now directly owns 16,325 shares of the company’s stock, valued at approximately $1,157,116. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Akre Capital Management LLC raised its position in shares of CarMax by 1.8% in the 2nd quarter. Akre Capital Management LLC now owns 5,254,491 shares of the company’s stock worth $382,895,000 after acquiring an additional 92,325 shares in the last quarter. DF Dent & Co. Inc. increased its position in CarMax by 2.7% during the 3rd quarter. DF Dent & Co. Inc. now owns 1,741,037 shares of the company’s stock valued at $130,003,000 after buying an additional 46,449 shares in the last quarter. Madison Investment Holdings Inc. increased its position in CarMax by 10.3% during the 2nd quarter. Madison Investment Holdings Inc. now owns 1,324,413 shares of the company’s stock valued at $96,510,000 after buying an additional 123,536 shares in the last quarter. Giverny Capital Inc. increased its position in CarMax by 16.3% during the 2nd quarter. Giverny Capital Inc. now owns 1,269,874 shares of the company’s stock valued at $92,536,000 after buying an additional 178,286 shares in the last quarter. Finally, Blair William & Co. IL increased its position in CarMax by 30.2% during the 3rd quarter. Blair William & Co. IL now owns 1,085,489 shares of the company’s stock valued at $81,053,000 after buying an additional 251,554 shares in the last quarter.
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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