CarMax (NYSE:KMX) Announces Quarterly Earnings Results

CarMax (NYSE:KMX) announced its earnings results on Wednesday. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.94 by $0.37, RTT News reports. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. During the same period last year, the company posted $1.38 EPS.

CarMax Price Performance

NYSE:KMX opened at $51.83 on Wednesday. CarMax has a 1-year low of $30.26 and a 1-year high of $71.99. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. The firm has a fifty day simple moving average of $42.26 and a 200 day simple moving average of $42.39. The stock has a market capitalization of $7.35 billion, a PE ratio of 32.39, a P/E/G ratio of 1.97 and a beta of 1.21.

Hedge Funds Weigh In On CarMax

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alberta Investment Management Corp bought a new position in CarMax during the fourth quarter worth $4,326,000. Mercer Global Advisors Inc. ADV boosted its position in CarMax by 94.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 62,338 shares of the company’s stock worth $2,409,000 after purchasing an additional 30,218 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in CarMax by 36.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 176,750 shares of the company’s stock worth $6,830,000 after purchasing an additional 47,133 shares during the period. SPWM Advisors LLC bought a new position in CarMax during the fourth quarter worth $556,000. Finally, SRS Investment Management LLC boosted its position in CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after purchasing an additional 5,327,603 shares during the period.

Analyst Ratings Changes

KMX has been the topic of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $41.00 target price on shares of CarMax in a report on Wednesday, April 15th. Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial raised their price target on shares of CarMax from $37.00 to $47.00 and gave the stock a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of CarMax from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Thursday, June 11th. Finally, Robert W. Baird raised their price target on shares of CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $42.40.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.