CarMax (NYSE:KMX) Announces Earnings Results

CarMax (NYSE:KMX - Get Free Report) issued its quarterly earnings data on Friday. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.20, RTT News reports. CarMax had a return on equity of 8.22% and a net margin of 1.90%. During the same quarter in the previous year, the business posted $0.97 EPS. CarMax's revenue was up 6.1% on a year-over-year basis.

CarMax Stock Down 0.3%

Shares of CarMax stock opened at $64.25 on Friday. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.07 and a beta of 1.38. The company has a debt-to-equity ratio of 2.91, a quick ratio of 0.52 and a current ratio of 2.31. The company's 50 day moving average price is $65.60 and its 200-day moving average price is $75.58. CarMax has a 52-week low of $61.34 and a 52-week high of $91.25.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KMX shares. Robert W. Baird reduced their target price on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Wedbush restated an "outperform" rating and issued a $90.00 price objective on shares of CarMax in a research report on Wednesday. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.82.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the acquisition, the director now directly owns 33,577 shares in the company, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after buying an additional 173 shares in the last quarter. Intech Investment Management LLC boosted its stake in CarMax by 61.7% during the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company's stock worth $1,492,000 after acquiring an additional 7,307 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in CarMax in the first quarter worth about $727,000. Jones Financial Companies Lllp grew its holdings in CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock worth $419,000 after purchasing an additional 161 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of CarMax by 12.5% during the first quarter. Empowered Funds LLC now owns 5,273 shares of the company's stock valued at $411,000 after purchasing an additional 585 shares in the last quarter.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.