CarMax, Inc (NYSE:KMX) – Stock analysts at Wedbush lowered their Q3 2019 earnings per share (EPS) estimates for CarMax in a research note issued to investors on Friday, November 16th. Wedbush analyst S. Basham now anticipates that the company will post earnings of $0.98 per share for the quarter, down from their prior estimate of $1.00. Wedbush currently has a “Buy” rating and a $87.00 price target on the stock. Wedbush also issued estimates for CarMax’s FY2019 earnings at $4.66 EPS and FY2021 earnings at $5.77 EPS.

A number of other research firms also recently weighed in on KMX. Wolfe Research started coverage on CarMax in a report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Robert W. Baird raised CarMax from a “neutral” rating to an “outperform” rating in a report on Thursday, September 27th. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a report on Monday, August 20th. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Morgan Stanley set a $89.00 target price on CarMax and gave the stock a “buy” rating in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $83.93.

KMX opened at $60.91 on Monday. CarMax has a fifty-two week low of $57.05 and a fifty-two week high of $81.67. The company has a debt-to-equity ratio of 3.78, a current ratio of 2.35 and a quick ratio of 0.52. The firm has a market cap of $10.83 billion, a PE ratio of 16.46, a PEG ratio of 1.01 and a beta of 1.62.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the stock. CWM LLC raised its stake in CarMax by 266.0% in the third quarter. CWM LLC now owns 1,442 shares of the company’s stock valued at $108,000 after purchasing an additional 1,048 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in CarMax in the third quarter valued at about $123,000. JNBA Financial Advisors grew its position in CarMax by 3,526.9% in the third quarter. JNBA Financial Advisors now owns 1,886 shares of the company’s stock valued at $141,000 after acquiring an additional 1,834 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in CarMax in the second quarter valued at about $149,000. Finally, Fuller & Thaler Asset Management Inc. grew its position in CarMax by 57.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after acquiring an additional 750 shares during the last quarter.

In related news, SVP Mohammad Shamim sold 34,142 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $74.16, for a total value of $2,531,970.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon G. Daniels sold 16,325 shares of the business’s stock in a transaction dated Monday, October 29th. The shares were 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 owned by insiders.

About CarMax

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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Earnings History and Estimates for CarMax (NYSE:KMX)

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