CarMax, Inc (NYSE:KMX) – Equities research analysts at William Blair upped their Q3 2018 EPS estimates for shares of CarMax in a research report issued on Monday. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $0.80 per share for the quarter, up from their prior estimate of $0.78. William Blair also issued estimates for CarMax’s FY2018 earnings at $3.78 EPS and FY2019 earnings at $4.12 EPS.
KMX has been the topic of several other research reports. Oppenheimer reiterated a “buy” rating on shares of CarMax in a report on Friday, September 1st. Deutsche Bank dropped their target price on CarMax from $84.00 to $76.00 and set a “hold” rating on the stock in a report on Sunday, November 26th. CIBC reiterated a “market perform” rating on shares of CarMax in a report on Thursday, October 5th. Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, Royal Bank of Canada upped their target price on CarMax from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $77.57.
CarMax (NYSE:KMX) last released its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. CarMax’s revenue was up 9.7% on a year-over-year basis.
In other CarMax news, SVP Jon G. Daniels sold 50,488 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $73.68, for a total value of $3,719,955.84. Following the sale, the senior vice president now owns 45,471 shares in the company, valued at $3,350,303.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO William C. Jr. Wood sold 201,701 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $73.56, for a total value of $14,837,125.56. Following the transaction, the chief operating officer now owns 146,717 shares in the company, valued at approximately $10,792,502.52. The disclosure for this sale can be found here. Insiders sold 609,955 shares of company stock worth $45,120,138 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Korea Investment CORP increased its stake in shares of CarMax by 140.5% during the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after purchasing an additional 1,033 shares during the period. Seven Eight Capital LP bought a new position in shares of CarMax during the second quarter worth approximately $133,000. Tredje AP fonden acquired a new stake in CarMax during the third quarter worth approximately $144,000. QS Investors LLC grew its position in CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after buying an additional 22 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in CarMax by 1.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock worth $149,000 after buying an additional 29 shares in the last quarter.
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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