CarMax, Inc., through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in 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; 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 whole 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, 2021, it operated approximately 220 used car stores and 1 new car franchises. CarMax, Inc. was founded in 1993 and is based in Richmond, Virginia.
IPO Year:
Exchange: NYSE
Website: carmax.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/20/2024 | $99.00 | Hold → Buy | Needham |
| 3/19/2024 | $80.00 | Neutral | Mizuho |
| 9/25/2023 | $85.00 → $90.00 | Neutral → Outperform | Wedbush |
| 6/12/2023 | Buy → Neutral | Northcoast | |
| 2/23/2023 | $66.00 | Hold | Truist |
| 1/11/2023 | $60.00 | Neutral → Underweight | JP Morgan |
| 1/5/2023 | Buy → Hold | Argus | |
| 12/23/2022 | $100.00 → $75.00 | Outperform | Oppenheimer |
| 10/3/2022 | $105.00 → $64.00 | Overweight → Equal-Weight | Stephens |
| 9/9/2022 | $146.00 → $100.00 | Neutral → Underperform | BofA Securities |
Delivers positive retail used unit growth and double-digit earnings increase CarMax, Inc. (NYSE:KMX) today reported results for the second quarter ended August 31, 2024. Second Quarter Highlights: Retail used unit sales increased 5.1% and comparable store used unit sales increased 4.3% from the prior year's second quarter; wholesale units decreased 0.3%. Gross profit per retail used unit of $2,269 and gross profit per wholesale unit of $975, both in line with last year. Extended Protection Plan (EPP) margin growth of $69 per retail unit to $575 and service margin growth of $84 per retail unit from the prior year's second quarter. Bought 300,000 vehicles from consumers and dealers, u
CarMax, Inc. (NYSE:KMX) will report its financial results for the second quarter ended August 31, 2024 before the market opens on September 26, 2024, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's
Announces the expansion of its asset-backed securitization program to enable incremental growth in finance income CarMax, Inc. (NYSE:KMX) today reported results for the first quarter ended May 31, 2024. First Quarter Highlights: Retail used unit sales decreased 3.1% and comparable store used unit sales decreased 3.8% from the prior year's first quarter; wholesale units declined 8.3% from the prior year's first quarter, impacted by lower year-over-year seasonal appreciation. Delivered strong margins in retail, wholesale, and Extended Protection Plans (EPP). Gross profit per retail used unit of $2,347, in line with last year; gross profit per wholesale unit of $1,064 and EPP of $563
CarMax, Inc. (NYSE:KMX) will report its financial results for the first quarter ended May 31, 2024 before the market opens on June 21, 2024, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's website
CarMax, Inc. (NYSE:KMX) today reported results for the fourth quarter and fiscal year ended February 29, 2024. Fourth Quarter Highlights: Net revenues were $5.6 billion, down 1.7% compared with the prior year fourth quarter. Retail used unit sales increased 1.3% and comparable store used unit sales increased 0.1% from the prior year's fourth quarter; wholesale units declined 4.0% from the prior year's fourth quarter. Delivered solid margins in retail and wholesale; gross profit per retail used unit of $2,251 and gross profit per wholesale unit of $1,120, both down slightly from last year's historically strong fourth quarter. Bought 234,000 vehicles from consumers and dealers,
CarMax, Inc. (NYSE:KMX) will report its financial results for the fourth quarter ended February 29, 2024 before the market opens on April 11, 2024, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's w
CarMax, Inc. (NYSE:KMX) today reported results for the third quarter ended November 30, 2023. Highlights: Net revenues were $6.1 billion, down 5.5% compared with the prior year third quarter. Retail used unit sales decreased 2.9% and comparable store used unit sales declined 4.1% from the prior year's third quarter; strong gross profit per retail used unit of $2,277, in line with last year's third quarter. Wholesale units increased 7.7% from the prior year's third quarter; strong gross profit per wholesale unit of $961, in line with last year's third quarter. Bought 250,000 vehicles from consumers and dealers, up 5.1% versus last year's third quarter. 228,000 of these vehicl
CarMax, Inc. (NYSE:KMX) will report its financial results for the third quarter ended November 30, 2023 before the market opens on December 21, 2023, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 274-8461 (or (203) 518-9814 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's
CarMax, Inc. (NYSE:KMX) today reported results for the second quarter ended August 31, 2023. Highlights: Net revenues were $7.1 billion, down 13.1% compared with the prior year second quarter. Retail used unit sales decreased 7.4% and comparable store used unit sales declined 9.0% from the prior year's second quarter; wholesale units declined 11.2% from the prior year's second quarter. Delivered strong margins in retail and wholesale; gross profit per retail used unit of $2,251, similar to last year's second quarter, and gross profit per wholesale unit of $963, an increase of $82 per unit despite steep market depreciation. SG&A of $585.7 million decreased 12.1% or $80.3 mil
CarMax, Inc. (NYSE:KMX) will report its financial results for the second quarter ended August 31, 2023 before the market opens on September 28, 2023, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 274-8461 (or (203) 518-9814 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's
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Needham upgraded CarMax from Hold to Buy and set a new price target of $99.00
Mizuho initiated coverage of CarMax with a rating of Neutral and set a new price target of $80.00
Wedbush upgraded CarMax from Neutral to Outperform and set a new price target of $90.00 from $85.00 previously
Northcoast downgraded CarMax from Buy to Neutral
Truist resumed coverage of CarMax with a rating of Hold and set a new price target of $66.00
JP Morgan downgraded CarMax from Neutral to Underweight and set a new price target of $60.00
Argus downgraded CarMax from Buy to Hold
Oppenheimer reiterated coverage of CarMax with a rating of Outperform and set a new price target of $75.00 from $100.00 previously
Stephens downgraded CarMax from Overweight to Equal-Weight and set a new price target of $64.00 from $105.00 previously
BofA Securities downgraded CarMax from Neutral to Underperform and set a new price target of $100.00 from $146.00 previously
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Delivers positive retail used unit growth and double-digit earnings increase CarMax, Inc. (NYSE:KMX) today reported results for the second quarter ended August 31, 2024. Second Quarter Highlights: Retail used unit sales increased 5.1% and comparable store used unit sales increased 4.3% from the prior year's second quarter; wholesale units decreased 0.3%. Gross profit per retail used unit of $2,269 and gross profit per wholesale unit of $975, both in line with last year. Extended Protection Plan (EPP) margin growth of $69 per retail unit to $575 and service margin growth of $84 per retail unit from the prior year's second quarter. Bought 300,000 vehicles from consumers and dealers, u
RICHMOND, Virginia, Sept. 25, 2024 (GLOBE NEWSWIRE) -- CarMax (NYSE:KMX) has been named to Fortune magazine's 2024 Fortune Best Workplaces in Retail™ list for the 10th consecutive year, ranking #6 in the large company category. Earning a spot on this prestigious list means that CarMax is one of the country's best companies to work for. "We are immensely proud of CarMax's associates for their dedication and hard work. This award is a testament to their unwavering commitment and the supportive culture we have built together," said Diane Cafritz, CarMax's EVP, Chief Innovation & People Officer. The Best Workplaces in Retail list is highly competitive. To determine the list, Fortune par
CarMax, Inc. (NYSE:KMX) will report its financial results for the second quarter ended August 31, 2024 before the market opens on September 26, 2024, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's
Richmond, VA, Aug. 23, 2024 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE:KMX), the nation's largest retailer of used cars, is excited to announce the launch of its latest and zaniest campaign yet: "BeetleMax: The Way Car Buying Shouldn't Be." This campaign, created in collaboration with Warner Bros. Pictures, is here just in time for the highly anticipated film "Beetlejuice Beetlejuice," only in theaters on September 6, 2024. "We're taking you on a wild ride through a car dealership run by none other than Beetlejuice himself," said Sarah Lane, SVP, Chief Marketing Officer at CarMax. "With his mischievous and unpredictable antics, Beetlejuice is the perfect character to show you how car buying
RICHMOND, VA, Aug. 08, 2024 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE:KMX), announces EVP and Chief Information and Technology Officer, Shamim Mohammad, was inducted into the prestigious CIO Hall of Fame during the 2024 CIO 100 Symposium in Colorado Springs, Colorado, on August 7. As one of 12 inductees, Shamim joins an elite group of CIOs who have significantly contributed to and profoundly influenced the technology profession while advancing the CIO role. The CIO Hall of Fame and the CIO 100 Symposium are organized and managed by CIO.com, the leading resource and publication for CIOs globally. "This is an incredible honor, and I am truly humbled to be inducted into the CIO Hall of Fame.
Announces the expansion of its asset-backed securitization program to enable incremental growth in finance income CarMax, Inc. (NYSE:KMX) today reported results for the first quarter ended May 31, 2024. First Quarter Highlights: Retail used unit sales decreased 3.1% and comparable store used unit sales decreased 3.8% from the prior year's first quarter; wholesale units declined 8.3% from the prior year's first quarter, impacted by lower year-over-year seasonal appreciation. Delivered strong margins in retail, wholesale, and Extended Protection Plans (EPP). Gross profit per retail used unit of $2,347, in line with last year; gross profit per wholesale unit of $1,064 and EPP of $563
CarMax, Inc. (NYSE:KMX) will report its financial results for the first quarter ended May 31, 2024 before the market opens on June 21, 2024, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at investors.carmax.com. A replay of the webcast will be available on the company's website
RICHMOND, Virginia, May 20, 2024 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE:KMX), the nation's largest retailer of used cars, today announced the release of its 2024 Responsibility Report, underscoring the company's ongoing commitment to making a positive societal impact while building sustainable value for its stakeholders. The report details the numerous ways CarMax continues to enhance its sustainability efforts, invest in its local communities, and promote equal access for all to reach their full potential. Among other initiatives, the report highlights key updates on the company's roadmap to meet greenhouse gas emission reduction goals; ongoing progress to be the leader in used electric v
Richmond, VA, April 22, 2024 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE:KMX), the nation's largest retailer of used cars, has released its latest findings on consumer trends in used electric vehicle (EV) shopping. The data, gathered from CarMax.com search and sales data from September 2023 to February 2024, reveals insights into consumer interest, popular models, trade-ins, and regional preferences. Key Highlights: From January 2021 to February 2024, monthly search volume for electric vehicles on CarMax.com increased by 177%. The following trends were identified from September 2023 to February 2024: The Tesla Model 3, Tesla Model Y, and Nissan LEAF maintained their rankings as the top
CarMax, Inc. (NYSE:KMX) today reported results for the fourth quarter and fiscal year ended February 29, 2024. Fourth Quarter Highlights: Net revenues were $5.6 billion, down 1.7% compared with the prior year fourth quarter. Retail used unit sales increased 1.3% and comparable store used unit sales increased 0.1% from the prior year's fourth quarter; wholesale units declined 4.0% from the prior year's fourth quarter. Delivered solid margins in retail and wholesale; gross profit per retail used unit of $2,251 and gross profit per wholesale unit of $1,120, both down slightly from last year's historically strong fourth quarter. Bought 234,000 vehicles from consumers and dealers,
CarMax's (NYSE:KMX) short percent of float has fallen 7.46% since its last report. The company recently reported that it has 18.07 million shares sold short, which is 13.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.91 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is im
Wedbush analyst Seth Basham maintains CarMax (NYSE:KMX) with a Outperform and raises the price target from $85 to $95.
Across the recent three months, 12 analysts have shared their insights on CarMax (NYSE:KMX), expressing a variety of opinions spanning from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 5 6 0 0 Last 30D 0 0 1 0 0 1M Ago 1 4 4 0 0 2M Ago 0 0 1 0 0 3M Ago 0 1 0 0 0 Analysts have recently evaluated CarMax and provided 12-month price targets. The average target is $78.58, accompanied by a high estimate of $105.00 and a low estimate of $66.00. A negative shift
Evercore ISI Group analyst Michael Montani maintains CarMax (NYSE:KMX) with a In-Line and raises the price target from $68 to $72.
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Shares of SeaStar Medical Holding Corporation (NASDAQ:ICU) fell sharply during Wednesday's session after the company entered into a $10 million registered direct offering of 947,868 shares at $10.55 per share. SeaStar Medical shares dipped 34% to $8.55 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers Virpax Pharmaceuticals, Inc. (NASDAQ:VRPX) shares jumped 139% to $2.78 after the company announced results for a Swine Model pilot study for Probudur. Kazia Therapeutics Limited (NASDAQ:KZIA) gained 129% to $0.4325 after the company announced results from GBM-AGILE, a phase II/III study that included an evaluation of paxalisib versus standard of
U.S. stocks were mostly higher, with the Nasdaq Composite gaining around 0.4% on Wednesday. Shares of SMART Global Holdings, Inc. (NASDAQ:SGH) rose sharply during Wednesday's session after the company reported better-than-expected third-quarter financial results. SMART Global reported quarterly earnings of 37 cents per share, which beat the analyst consensus estimate of 30 cents. Quarterly sales came in at $300.6 million, which beat the analyst consensus estimate of $300 million, according to data from Benzinga Pro. SMART Global shares jumped 17.4% to $27.27 on Wednesday. Here are some other big stocks recording gains in today’s session. Solaris Oilfield Infrastructure, Inc.
Analysts' ratings for CarMax (NYSE:KMX) over the last quarter vary from bullish to bearish, as provided by 22 analysts. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 11 8 1 0 Last 30D 1 2 1 0 0 1M Ago 0 2 4 0 0 2M Ago 0 1 0 0 0 3M Ago 1 6 3 1 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $80.59, along with a high estimate of $105.00 and a low estimate of $55.
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