CarMax Inc (NYSE:KMX) – Oppenheimer Holdings raised their FY2018 earnings per share (EPS) estimates for CarMax in a report issued on Thursday. Oppenheimer Holdings analyst B. Nagel now expects that the company will post earnings of $3.75 per share for the year, up from their previous estimate of $3.72. Oppenheimer Holdings currently has a “Market Perform” rating and a $80.00 price target on the stock.

CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same period last year, the firm earned $0.88 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis.

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A number of other brokerages also recently issued reports on KMX. UBS AG downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday. CIBC reiterated a “market perform” rating on shares of CarMax in a research note on Thursday. Berenberg Bank began coverage on shares of CarMax in a research note on Wednesday. They issued a “hold” rating and a $83.00 price objective on the stock. Credit Suisse Group increased their price objective on shares of CarMax from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Friday, September 29th. Finally, Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.93.

CarMax (NYSE KMX) opened at 76.81 on Friday. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 22.06 and a beta of 1.38. The company’s 50 day moving average is $69.62 and its 200-day moving average is $63.75. CarMax has a 52-week low of $47.50 and a 52-week high of $77.64.

Several hedge funds have recently modified their holdings of KMX. Korea Investment CORP grew its stake in shares of CarMax by 140.5% during the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after acquiring an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of CarMax during the second quarter worth about $112,000. Seven Eight Capital LP purchased a new stake in shares of CarMax during the second quarter worth about $133,000. QS Investors LLC grew its stake in shares of CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after acquiring an additional 22 shares during the last quarter. Finally, Global X Management Co. LLC grew its stake in shares of CarMax by 7.3% during the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after acquiring an additional 169 shares during the last quarter.

In other CarMax news, Director William R. Tiefel sold 23,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $76.39, for a total value of $1,756,970.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edwin J. Hill sold 35,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the completion of the transaction, the executive vice president now owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The disclosure for this sale can be found here. Insiders sold 644,520 shares of company stock valued at $46,786,223 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

CarMax Company Profile

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Earnings History and Estimates for CarMax (NYSE:KMX)

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