CarMax (NYSE:KMX) Issues Earnings Results, Misses Estimates By $0.13 EPS

CarMax (NYSE:KMX) issued its earnings results on Thursday. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13), RTT News reports. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. CarMax’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share.

CarMax Price Performance

NYSE KMX traded down $0.57 during trading on Friday, hitting $71.41. 4,231,192 shares of the company’s stock were exchanged, compared to its average volume of 2,425,024. The company has a current ratio of 2.26, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96. The company has a market cap of $11.28 billion, a PE ratio of 23.56, a P/E/G ratio of 1.09 and a beta of 1.61. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The stock’s 50 day moving average price is $78.80 and its two-hundred day moving average price is $72.20.

Analyst Ratings Changes

KMX has been the subject of a number of research analyst reports. Needham & Company LLC reduced their price objective on shares of CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research report on Friday. Truist Financial reduced their price objective on shares of CarMax from $75.00 to $72.00 and set a “hold” rating for the company in a research report on Friday. Robert W. Baird reduced their target price on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $83.00 target price on shares of CarMax in a research report on Monday, April 8th. Finally, Mizuho reduced their target price on shares of CarMax from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CarMax currently has an average rating of “Hold” and a consensus price target of $78.67.

Insiders Place Their Bets

In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Diane L. Cafritz sold 2,730 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at $357,849.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane L. Cafritz sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the transaction, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,929 shares of company stock valued at $2,740,901. 1.66% of the stock is currently owned by corporate insiders.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of CarMax by 153.3% during the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in shares of CarMax by 100.0% during the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of CarMax by 194.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 438 shares of the company’s stock worth $31,000 after buying an additional 289 shares in the last quarter. VitalStone Financial LLC bought a new position in shares of CarMax in the 1st quarter worth $33,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares in the last quarter.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company 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.