- Guggenheim analyst Ali Faghri downgraded CarMax Inc KMX to Neutral from Buy without a price target.
- Faghri continues to have a positive medium- to long-term view on the company and its ability to be an omnichannel leader.
- Meanwhile, the analyst has listed several factors, including constrained inventory, recent direct-from-consumer sourcing improvements that aren't translating to higher GPU, and elevated SG&A that will likely limit near-term earnings potential upside.
- Related Content: Why CarMax Shares Are Hitting The Brakes Today
- Price Action: KMX shares are trading lower by 1.23% at $126.39 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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