Wednesday morning, CarMax, Inc KMX surprised analysts with a F1Q11 EPS of $0.45, well above JP Morgan's estimate of $0.35 and consensus of $0.33. CarMax is a retailer of used cars, operating 100 used car superstores in 46 metropolitan markets.
This EPS growth was driven by an increase in gross profit per vehicle, up to $2,212 in F1Q versus $2,067 in F4Q10.
JP Morgan analysts Himanshu Patel and Vivek Aalok said, "While we maintain our Neutral rating on the stock, we are positively biased from a trading perspective given recent pullback and what seems like increasing ability to maintain higher than historical average gross profit per used vehicle retailed"
JP Morgan's price target for KMX is $26.00. KMX is currently trading at $21.85.
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date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAutomotive RetailConsumer DiscretionaryHimanshu PatelJP MorganVivek Aalok
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