CarMax (NYSE:KMX) Releases Earnings Results, Misses Estimates By $0.13 EPS

CarMax (NYSE:KMX) issued its quarterly earnings data on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13), RTT News reports. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share.

CarMax Stock Performance

Shares of KMX opened at $71.40 on Friday. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a fifty day moving average price of $78.80 and a 200-day moving average price of $72.20. The company has a current ratio of 2.26, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96. The firm has a market cap of $11.27 billion, a PE ratio of 23.56, a P/E/G ratio of 1.09 and a beta of 1.61.

Insider Activity

In related news, EVP Diane L. Cafritz sold 2,730 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $357,849.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Diane L. Cafritz sold 22,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $355,515.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane L. Cafritz sold 2,730 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $357,849.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,929 shares of company stock worth $2,740,901. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kinneret Advisory LLC grew its position in CarMax by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 5,192 shares of the company’s stock worth $501,000 after purchasing an additional 116 shares during the period. GAMMA Investing LLC grew its position in CarMax by 6.5% during the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock worth $188,000 after purchasing an additional 131 shares during the period. Czech National Bank grew its position in CarMax by 0.5% during the 4th quarter. Czech National Bank now owns 27,789 shares of the company’s stock worth $2,133,000 after purchasing an additional 138 shares during the period. Spire Wealth Management grew its position in CarMax by 8.3% during the 4th quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock worth $146,000 after purchasing an additional 147 shares during the period. Finally, Lindbrook Capital LLC grew its position in CarMax by 32.8% during the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after purchasing an additional 155 shares during the period.

Analyst Ratings Changes

Several brokerages have issued reports on KMX. Wedbush increased their target price on CarMax from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Mizuho dropped their target price on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday. Needham & Company LLC dropped their target price on CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $83.00 target price on shares of CarMax in a research report on Monday, April 8th. Finally, Evercore ISI dropped their target price on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $78.67.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.