CarMax Inc. (NYSE:KMX) released its earnings results on Wednesday. The company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The business earned $4 billion during the quarter, compared to the consensus estimate of $4.11 billion. CarMax had a net margin of 4.04% and a return on equity of 20.54%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS.

CarMax (NYSE:KMX) opened at 54.62 on Thursday. The firm’s 50-day moving average price is $58.32 and its 200 day moving average price is $53.57. CarMax has a 52 week low of $41.25 and a 52 week high of $60.81. The company has a market capitalization of $10.46 billion, a PE ratio of 17.85 and a beta of 1.46.

Earnings History for CarMax (NYSE:KMX)

In related news, EVP Eric M. Margolin sold 2,000 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $50.75, for a total transaction of $101,500.00. Following the transaction, the executive vice president now directly owns 34,303 shares in the company, valued at approximately $1,740,877.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas J. Folliard sold 271,435 shares of the business’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $55.39, for a total value of $15,034,784.65. Following the transaction, the chief executive officer now owns 758,517 shares in the company, valued at $42,014,256.63. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new stake in shares of CarMax during the first quarter worth approximately $39,950,000. Abrams Bison Investments LLC boosted its stake in shares of CarMax by 31.6% in the first quarter. Abrams Bison Investments LLC now owns 2,858,787 shares of the company’s stock worth $146,084,000 after buying an additional 686,131 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CarMax by 6.1% in the first quarter. Wellington Management Group LLP now owns 3,625,082 shares of the company’s stock worth $185,242,000 after buying an additional 206,898 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of CarMax by 0.3% in the first quarter. Legal & General Group Plc now owns 910,718 shares of the company’s stock worth $46,534,000 after buying an additional 2,405 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its stake in shares of CarMax by 75.8% in the first quarter. Zurich Insurance Group Ltd FI now owns 37,070 shares of the company’s stock worth $1,894,000 after buying an additional 15,980 shares in the last quarter.

A number of analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $44.00 target price on shares of CarMax in a research report on Wednesday, July 20th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of CarMax in a research report on Wednesday, June 22nd. Robert W. Baird increased their target price on shares of CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. Buckingham Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and increased their target price for the company from $59.00 to $63.00 in a research report on Friday, September 9th. They noted that the move was a valuation call. Finally, Susquehanna assumed coverage on shares of CarMax in a research report on Thursday, August 25th. They set a “positive” rating and a $70.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $62.47.

About CarMax

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.

5 Day Chart for NYSE:KMX

Receive News & Ratings for CarMax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax Inc. and related companies with MarketBeat.com's FREE daily email newsletter.