CarMax, Inc.’s Stock Price Soars to $73.28, Marking a Robust 2.91% Increase: A Profitable Opportunity for Investors

CarMax, Inc. (KMX)

73.28 USD +2.07 (+2.91%) Volume: 1.9M

CarMax, Inc.’s stock price sees a positive surge, trading at 73.28 USD with a significant session rise of +2.91% and a trading volume of 1.9M, despite a year-to-date decrease of -4.51%, reflecting the dynamic nature of KMX’s stock performance.

Latest developments on CarMax, Inc.

Leading up to today’s stock price movements, CarMax, Inc. (NYSE:KMX) saw shares being sold by Compass Ion Advisors LLC in June 2024. New analysts also began covering the company, along with other companies like Uber and TG Therapeutics. With a positive outlook, CarMax was poised for an earnings beat in Q3, which could potentially lead to a great earnings season for the company. The recent Q2 earnings report also provided key metrics that investors are closely monitoring, influencing the stock price movements today.

CarMax, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have been closely following Carmax Inc, a leading used car retailer in the United States. In their report titled “CarMax Inc: How Are They Embracing Generative AI For Improving Efficiency & Strategic Expansion? – Major Drivers,” the analysts highlighted the company’s Q3 fiscal year 2024 results, which showed sequential year-over-year improvements across key business areas for four consecutive quarters. Despite a 5% decrease in total sales for Q3 FY ’24, attributed to lower retail and wholesale prices, Carmax saw success in higher wholesale volume. Retail unit sales declined by 2.9%, while used unit comps were down by 4.1%.

Furthermore, Baptista Research‘s analysis in the report “CarMax Inc.: Omnichannel Investments Paying Off – What Does This Mean for Future Growth? – Major Drivers,” discussed how Carmax Inc delivered a mixed result in the recent quarter. While revenues fell below market expectations, the company exceeded analyst consensus on earnings. The success was attributed to the acquisition of more vehicles from consumers and dealers, as well as increased wholesale unit sales compared to the previous year. Additionally, CarMax made strides by launching its first all-electric semi-truck as a vehicle mover in California’s San Joaquin Valley, showcasing their commitment to innovation and growth.

A look at CarMax, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

CarMax Inc has been given a strong score of 4 for its overall value, indicating a positive long-term outlook in terms of its stock price compared to its intrinsic value. However, the company scored lower in dividend and resilience, with scores of 1 and 2 respectively. This suggests that investors may not see significant returns from dividends and that the company may face challenges in adapting to unforeseen circumstances. Despite this, CarMax Inc received a score of 3 for both growth and momentum, showing potential for future expansion and positive market trends.

CarMax Inc is a company that specializes in selling used cars and light trucks across the United States. With a solid value score of 4, the company is seen as having good potential for growth and a positive outlook for its stock price. While its dividend and resilience scores are lower at 1 and 2 respectively, indicating limited returns for investors and potential vulnerabilities, CarMax Inc still shows promise with scores of 3 in both growth and momentum. This suggests that the company may continue to see positive developments and market trends in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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