CarMax Inc (NYSE:KMX) announced its earnings results on Friday. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03, Bloomberg Earnings reports. The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.26 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share.
Shares of CarMax (NYSE:KMX) traded up 7.77% on Friday, reaching $74.19. 8,937,488 shares of the company’s stock traded hands. CarMax has a 52 week low of $47.50 and a 52 week high of $74.60. The firm’s 50 day moving average is $66.11 and its 200 day moving average is $62.70. The firm has a market capitalization of $13.60 billion, a P/E ratio of 21.31 and a beta of 1.32.
In other news, Director Thomas J. Folliard sold 16,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $68.39, for a total transaction of $1,094,240.00. Following the completion of the transaction, the director now directly owns 495,572 shares of the company’s stock, valued at $33,892,169.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $66.87, for a total value of $573,945.21. Following the transaction, the chief financial officer now directly owns 70,522 shares of the company’s stock, valued at $4,715,806.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,515 shares of company stock valued at $10,108,759. 1.70% of the stock is currently owned by corporate insiders.
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Several equities analysts have weighed in on the stock. Deutsche Bank AG lowered their target price on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 target price on the stock in a report on Wednesday, August 16th. UBS AG downgraded shares of CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $74.00 target price (up previously from $72.00) on shares of CarMax in a report on Thursday, June 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $77.00 target price (up previously from $73.00) on shares of CarMax in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. CarMax currently has an average rating of “Buy” and an average target price of $72.25.
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.
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