CarMax, Inc., together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through 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, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions. The company also provides reconditioning and vehicle repair services; and financing alternatives for retail customers across a range of credit spectrum through its CarMax Auto Finance and arrangements with various financial institutions. As of February 28, 2022, it operated approximately 230 used car stores. CarMax, Inc. was founded in 1993 and is based in Richmond, Virginia.
CarMax Trading Down 1.3 %
Shares of KMX traded down $1.27 during mid-day trading on Thursday, reaching $98.74. The company had a trading volume of 809,087 shares, compared to its average volume of 1,657,422. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39. The firm has a fifty day simple moving average of $94.87 and a 200-day simple moving average of $97.82. CarMax has a fifty-two week low of $84.37 and a fifty-two week high of $155.98. The company has a current ratio of 2.72, a quick ratio of 0.63 and a debt-to-equity ratio of 3.29.
CarMax (NYSE:KMX - Get Rating) last announced its quarterly earnings results on Friday, June 24th. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.05. The company had revenue of $9.31 billion for the quarter, compared to analyst estimates of $9.38 billion. CarMax had a net margin of 2.88% and a return on equity of 18.40%. During the same quarter last year, the business earned $2.63 EPS. On average, sell-side analysts anticipate that CarMax will post 5.72 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
KMX has been the subject of a number of recent research reports. Wedbush raised their price objective on shares of CarMax from $90.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, June 27th. JPMorgan Chase & Co. dropped their price objective on shares of CarMax from $110.00 to $105.00 in a research note on Tuesday, June 7th. Morgan Stanley dropped their price objective on shares of CarMax from $140.00 to $124.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. Needham & Company LLC initiated coverage on shares of CarMax in a research note on Monday, May 2nd. They set a "hold" rating for the company. Finally, Royal Bank of Canada raised their price objective on shares of CarMax from $104.00 to $108.00 and gave the stock an "outperform" rating in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $126.89.
Insider Buying and Selling at CarMax
In other CarMax news, EVP Diane L. Cafritz sold 18,092 shares of CarMax stock in a transaction on Friday, July 1st. The shares were sold at an average price of $91.06, for a total value of $1,647,457.52. Following the transaction, the executive vice president now owns 4,988 shares in the company, valued at approximately $454,207.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Diane L. Cafritz sold 15,555 shares of CarMax stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $94.75, for a total transaction of $1,473,836.25. Following the transaction, the executive vice president now owns 4,988 shares in the company, valued at approximately $472,613. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane L. Cafritz sold 18,092 shares of CarMax stock in a transaction on Friday, July 1st. The shares were sold at an average price of $91.06, for a total transaction of $1,647,457.52. Following the transaction, the executive vice president now owns 4,988 shares in the company, valued at approximately $454,207.28. The disclosure for this sale can be found here. Insiders have sold a total of 37,103 shares of company stock worth $3,445,847 in the last quarter. 1.65% of the stock is owned by insiders.
