William Blair Has Bullish Estimate for CarMax Q3 Earnings

CarMax, Inc. (NYSE:KMX - Free Report) - Stock analysts at William Blair upped their Q3 2026 earnings per share estimates for shares of CarMax in a note issued to investors on Monday, June 9th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $0.76 for the quarter, up from their prior estimate of $0.75. The consensus estimate for CarMax's current full-year earnings is $3.23 per share. William Blair also issued estimates for CarMax's FY2026 earnings at $3.75 EPS and FY2027 earnings at $4.36 EPS.

Several other analysts also recently weighed in on the company. Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $86.00 to $90.00 in a report on Wednesday, March 26th. Robert W. Baird dropped their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Evercore ISI decreased their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, Needham & Company LLC lowered their price target on CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $85.82.

CarMax Trading Down 1.6%

NYSE KMX traded down $1.07 during trading on Wednesday, hitting $66.76. 1,173,327 shares of the company's stock traded hands, compared to its average volume of 2,739,713. The stock has a fifty day moving average of $66.73 and a two-hundred day moving average of $76.38. CarMax has a 12-month low of $61.34 and a 12-month high of $91.25. The firm has a market cap of $10.19 billion, a P/E ratio of 22.63, a PEG ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

Insider Activity

In other CarMax news, Director Mitchell D. Steenrod bought 1,300 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now owns 33,577 shares in the company, valued at $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company's stock.

Institutional Trading of CarMax

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company's stock worth $702,425,000 after purchasing an additional 282,519 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. Norges Bank bought a new stake in shares of CarMax in the fourth quarter worth $423,187,000. Janus Henderson Group PLC grew its holdings in shares of CarMax by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company's stock worth $381,978,000 after acquiring an additional 29,715 shares during the period. Finally, Geode Capital Management LLC increased its position in CarMax by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company's stock valued at $302,564,000 after acquiring an additional 47,058 shares during the last quarter.

CarMax Company Profile

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.