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CarMax

CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.

CARS


Now that Goldman Sachs has warned investors about potential tail risks in the broader S&amp;P 500 index, it would be good for investors to start looking for opportunities that offer fewer downside risks in 2025 but

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CVNA

Carvana stock has seen a rollercoaster ride for investors, with a huge rally but also a recent dip. Its stock chart shows a bearish trend and a scathing report from Hindenburg may add fuel to the fire. Investors should be cautious.

Carvana Chart Weakens As Momentum Indicators Turn Bearish, Short Report Hits

CARG


When it comes to used cars in the United States, CarMax Inc. (NYSE:KMX) stands out as the largest used car dealership. The auto/tires/trucks sector giant operates more than 245 physical dealerships in the country, and

CarMax Is Firing on All Pistons as Growth Returns



CarMax (NYSE:KMX) has headwinds in 2204 but is navigating difficult times well, selling more cars than expected and sustaining a solid margin. The company isn’t thriving but is growing and building leverage for

CarMax Gets in Gear: Is Now the Time to Buy?

CarMax Inc

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Shares of companies within the broader consumer discretionary sector are trading higher following softer-than-expected December inflation data.

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Shares of companies within the broader consumer discretionary sector are trading lower amid overall market weakness due to a rise in yields.

Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) has been a rollercoaster for investors, with a jaw-dropping 327% rally over the past year overshadowed by a 21.97% dip in <a href="https://www.benzinga.com/quote/CVNA/news">the last month</a>. 
But behind the flashy headlines is a stock chart showing signs of fatigue.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010325&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="492" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03042341/Screenshot-2025-01-03-at-2.53.24-PM.png" alt="" class="wp-image-716735" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03042341/Screenshot-2025-01-03-at-2.53.24-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03042341/Screenshot-2025-01-03-at-2.53.24-PM-300x235.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010325&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
<h2 class="wp-block-heading">Carvana Stock Chart: All Signals Point South</h2>
Carvana&#8217;s stock has dropped below key simple moving averages (Eight, 20 and 50-day), a textbook sign of a bearish trend. Adding to the challenges:
<ul>
<li>The stock&#8217;s price of $199.56 is far below its eight-day SMA of $212.33, signaling bearish short-term momentum.</li>
<li>The gap widens with the 20-day SMA at $231.15 and the 50-day SMA at $235.49, adding further technical pressure.</li>
<li>While the 200-day SMA at $154.62 suggests a bullish longer-term outlook, it offers little solace to short-term traders facing the current downturn.</li>
</ul>
With a MACD of negative 10.08 and an RSI of 28.03, Carvana&#8217;s stock is officially in oversold territory. But oversold doesn't always mean a bargain—sometimes it's just a sign of more trouble ahead.
Read Also: <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/01/42768576/top-2-tech-and-telecom-stocks-that-are-ticking-portfolio-bombs-2">Top 2 Tech And Telecom Stocks That Are Ticking Portfolio Bombs</a>
<h2 class="wp-block-heading">Hindenburg Hits The Brakes</h2>
SShort-seller Hindenburg Research's critical report intensifies bearish sentiment, describing <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42769626/hindenburg-shorts-carvana-stock-claims-used-car-retailers-turnaround-is-a-mirage">Carvana's turnaround a "mirage."</a> Accusations of "accounting manipulation" and "lax underwriting" may not be new, but the timing is impeccable. After all, Carvana has been trading at lofty valuations:
<ul>
<li>Forward P/E of 101—a staggering premium to rivals like CarMax Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) and AutoNation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>).</li>
<li>Sales multiples 845% higher than its peers.</li>
</ul>
Hindenburg even claims the company is inflating its valuation through $800 million in loan sales to a &#8220;suspected undisclosed related party&#8221; and cites insider selling as further evidence of an overheated stock.
Carvana, however, dismissed Hindenburg&#8217;s report as &#8220;misleading and inaccurate,&#8221; reiterating confidence in its 2025 growth plan, as they responded to Benzinga.
<h2 class="wp-block-heading">What Does This Mean For Investors?</h2>
Despite the short report, Carvana shares showed resilience, bouncing back by over 3% on Thursday after a brief dip. But the bigger question is: can the stock sustain its gains, or is this a dead-cat bounce?
With strong selling pressure and a technical setup favoring bears, investors should tread carefully. While oversold conditions can tempt bottom-fishers, the ongoing bearish signals and fundamental concerns from Hindenburg's report suggest Carvana might be stuck in reverse for now.
For those still holding CVNA, it might be time to brace for turbulence as challenges may lie ahead.
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Photo: Shutterstock

A large exercise of company stock options by Jon Daniels, SVP at CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) was disclosed in a new SEC filing on December 26, as part of an insider exercise.
What Happened: In an insider options sale disclosed in a Form 4 filing on Thursday with the <a href="https://www.sec.gov/Archives/edgar/data/0001170010/000117001024000136//Archives/edgar/data/1170010/000117001024000136/0001170010-24-000136-index.htm">U.S. Securities and Exchange Commission</a>, Daniels, SVP at CarMax, exercised stock options for 37,845 shares of KMX. The transaction value amounted to $833,914.
During Friday's morning session, CarMax shares down by 0.11%, currently priced at $85.08. Considering the current price, Daniels's 37,845 shares have a total value of $833,914.
<h3>All You Need to Know About CarMax</h3>
CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.
<h3>Financial Insights: CarMax</h3>
Negative Revenue Trend: Examining CarMax's financials over 3 months reveals challenges. As of 30 November, 2024, the company experienced a decline of approximately -11.27% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 10.89%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, CarMax exhibits below-average bottom-line performance with a current EPS of 0.81.
</li>
</ul>
Debt Management: CarMax's debt-to-equity ratio is below the industry average. With a ratio of 3.09, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 28.97 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 0.51 is lower than the industry average, implying a discounted valuation for CarMax's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): At 18.22, the company's EV/EBITDA ratio outperforms industry norms, reflecting positive market perception. This positioning indicates optimistic expectations for the company's future performance.
</li>
</ul>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
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<h3>Why Pay Attention to Insider Transactions</h3>
While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Breaking Down the Significance of Transaction Codes</h3>
Surveying the realm of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often give prominence to those unfolding in the open market, systematically detailed in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001170010">Check Out The Full List Of CarMax's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

News

Insider Trades

Major Decision: Jon Daniels Exercises Options, Realizing $833K At CarMax

On December 26, it was revealed in an SEC filing that William Nash, President &amp; CEO at CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) executed a significant exercise of company stock options.
What Happened: In an insider options sale disclosed in a Form 4 filing on Thursday with the <a href="https://www.sec.gov/Archives/edgar/data/0001170010/000117001024000137//Archives/edgar/data/1170010/000117001024000137/0001170010-24-000137-index.htm">U.S. Securities and Exchange Commission</a>, Nash, President &amp; CEO at CarMax, exercised stock options for 120,513 shares of KMX. The transaction value amounted to $2,655,503.
CarMax shares are trading down 0.11% at $85.08 at the time of this writing on Friday morning. Since the current price is $85.08, this makes Nash's 120,513 shares worth $2,655,503.
<h3>All You Need to Know About CarMax</h3>
CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.
<h3>Financial Insights: CarMax</h3>
Decline in Revenue: Over the 3 months period, CarMax faced challenges, resulting in a decline of approximately -11.27% in revenue growth as of 30 November, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: With a low gross margin of 10.89%, the company exhibits below-average profitability, signaling potential struggles in cost efficiency compared to its industry peers.
</li>
<li>
Earnings per Share (EPS): With an EPS below industry norms, CarMax exhibits below-average bottom-line performance with a current EPS of 0.81.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 3.09.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 28.97 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 0.51 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 18.22, CarMax demonstrates a robust market valuation, outperforming industry benchmarks.
</li>
</ul>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Navigating the Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Important Transaction Codes</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001170010">Check Out The Full List Of CarMax's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

William Nash Exercises Options, Realizes $2.66M

JP Morgan analyst Rajat Gupta maintains CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Underweight and raises the price target from $70 to $72.

Price Target

Analyst Ratings

JP Morgan Maintains Underweight on CarMax, Raises Price Target to $72

Truist Securities analyst Scot Ciccarelli maintains CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Hold and raises the price target from $72 to $88.

Truist Securities Maintains Hold on CarMax, Raises Price Target to $88

RBC Capital analyst Steven Shemesh maintains CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Outperform and raises the price target from $99 to $103.

RBC Capital Maintains Outperform on CarMax, Raises Price Target to $103

Mizuho analyst David Bellinger maintains CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Neutral and raises the price target from $72 to $80.

Mizuho Maintains Neutral on CarMax, Raises Price Target to $80

Needham analyst Chris Pierce maintains CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Buy and raises the price target from $90 to $98.

Needham Maintains Buy on CarMax, Raises Price Target to $98

The day after a volatile Federal Reserve meeting, Wall Street grappled with the stark reality of Fed Chair <a href="https://www.benzinga.com/topic/jerome-powell">Jerome Powell</a>&#8216;s cautious tone on cutting interest rates in 2024. The message left investors weighing the impact of higher-for-longer interest rates amid<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42585715/us-gdp-upwardly-revised-to-31-in-q3-jobless-claims-drop-more-than-expected-treasury-yields-hit-7-month-highs"> a still-resilient economy.</a>
Despite the hawkish undertones, stocks managed to stabilize, with major indices posting modest gains as dip-buyers emerged.
The S&amp;P 500 rose 0.5%, recovering from a steep 3% selloff on Wednesday—its worst one-day drop since September 2022. The Dow Jones Industrial Average gained 0.4%, attempting to break a staggering 10-day losing streak, its longest since 1974, while the tech-heavy Nasdaq 100 edged 0.3% higher. 
While equities regained some ground, market conviction remains tepid as investors brace for Friday's release of the November inflation report, a critical data point for the Federal Reserve&#8217;s future policy decisions. The report could either reaffirm the Fed's hawkish stance or inject hope for an <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42598354/wall-street-pins-hopes-on-fridays-crucial-fed-inflation-report-yet-a-miracle-is-needed-to-shift-the-narrative">lower-than-expected data.</a>
Thursday's economic data continued to underscore the resilience of the U.S. economy. Third-quarter GDP growth was upwardly revised from 2.8% to 3.1%, amid strong consumer spending. Weekly jobless claims fell to 220,000 last week, below forecasts of 230,000, signaling a still-tight labor market.
The bond market extended its selloff, with longer-dated Treasuries taking the biggest hit. Fixed-income investors remain under pressure, exacerbated by <a href="https://www.benzinga.com/24/12/42594797/trump-wants-to-get-rid-of-the-debt-ceiling-30-year-treasury-bonds-fall-to-2024-lows-stocks-cut-gains">recent comments from Donald Trump,</a> who floated the idea of eliminating the U.S. debt ceiling entirely—a development that could upend Treasury market dynamics.
In currency markets, the U.S. Dollar Index (DXY) rose 0.2%, hitting its highest level since November 2022, supported by robust economic data.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained flat at $100,000, following Wednesday&#8217;s 5.6% plunge.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,903.81</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,511.46</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,278.46</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,228.69</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:10 p.m. ET </figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent121924&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.5% to $589.79.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.5% to $426.40.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.3% up to $517.89.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $220.70. </li>
<li>The&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up by 1%; the&nbsp;Materials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 0.6%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) plummeted over 16% after a weaker-than-expected guidance for fiscal 2025, eyeing the worst 1-day drop since March 2020. </li>
<li>Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) rallied over 6% in reaction to stronger-than-expected quarterly earnings.</li>
<li>Other stocks reacting to earnings included Darden Restaurants Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) up 15%, Cintas Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) down 10%, Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), up 2.5%, ConAgra Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>), down 2%, FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) up 3.3%, CarMax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>), up 4.3%, and Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>), down 23%. </li>
<li>Major companies slated to report their earnings after the close include FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) and Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>). </li>
</ul>
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US Stocks Edge Up, Micron Suffers Worst Day Since March 2020, Bond Yields Surge: What's Driving Thursday's  Markets?

U.S. stocks were higher, with the Dow Jones index gaining over 150 points on Thursday.
Shares of Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) rose sharply in today's session after the company reported better-than-expected first-quarter financial results and raised FY25 <a href="https://www.benzinga.com/24/12/42586612/accenture-delivers-q1-revenue-growth-bolstered-by-consulting-and-managed-services">revenue growth outlook</a>.
On Thursday, Accenture reported first-quarter fiscal 2025 sales of $17.69 billion compared with the analyst consensus estimate of $17.12 billion, up 9% year-over-year in U.S. dollars and 5% in local currency.
Accenture shares jumped 7% to $372.09 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Omeros Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMER#NASDAQ">OMER</a>) shares jumped 68% to $12.55 after the company's Narsoplimab met pivotal trial primary endpoint.</li>
<li>Soho House &amp; Co Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHCO#NASDAQ">SHCO</a>) gained 54% to $7.57 after the company received a $9.00 per share acquisition offer from a consortium backed by Executive Chairman Ron Burkle and Yucaipa. The board has formed a special committee to evaluate the proposal.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) rose 35% to $16.55. On Wednesday, the FDA approved Mesoblast's Ryoncil (remestemcel-L) as the first mesenchymal stromal cell (MSC) therapy in the U.S.</li>
<li>Microvast Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MVST#NASDAQ">MVST</a>) gained 21.7% to $1.3990.</li>
<li>Sable Offshore Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) surged 20.3% to $23.63.</li>
<li>Prothena Corporation plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTA#NASDAQ">PRTA</a>) gained 17.8% to $14.09 after the Phase IIb Prasinezumab study showed potential in early Parkinson&#8217;s disease.</li>
<li>Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) rose 14.3% to $182.79 after the company reported better-than-expected second-quarter EPS and issued better-than-expected FY25 revenue outlook.</li>
<li>Innodata Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INOD#NASDAQ">INOD</a>) gained 14.2% to $39.09. Wedbush analyst Daniel Ives initiated coverage on Innodata with an Outperform rating and announced a price target of $48.</li>
<li>Valneva SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VALN#NASDAQ">VALN</a>) gained 10.1% to $4.16. Valneva expanded Chikungunya vaccine access in Asia through partnership with Serum Institute.</li>
<li>Tripadvisor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>) rose 8.8% to $14.10. Tripadvisor and Liberty TripAdvisor announced a planned merger.</li>
<li>Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) shares gained 4.8% to $23.98.</li>
<li>CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) shares rose 4.5% to $85.08 after the company reported better-than-expected quarterly earnings and sales.</li>
</ul>
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<li><a href="https://www.benzinga.com/24/12/42591599/att-to-rally-more-than-33-here-are-10-top-analyst-forecasts-for-thursday">AT&amp;T To Rally More Than 33%? Here Are 10 Top Analyst Forecasts For Thursday</a></li>
</ul>

Intraday Update

Markets

Movers

INOD

MESO

MVST

OMER

PRTA

SHCO

TRIP

VALN

Accenture Posts Upbeat Results, Joins Darden Restaurants, CarMax And Other Big Stocks Moving Higher On Thursday

CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) shares are trading higher after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42572355/carmax-reports-third-quarter-fiscal-year-2025-results" rel="noreferrer noopener">third-quarter earnings results</a>.
Quarterly sales of&nbsp;$6.223 billion&nbsp;beat the street view of&nbsp;$6.042 billion. The company reported earnings per share of 81 cents, beating the&nbsp;analyst <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus estimate of 64 cents</a>.
CarMax Auto Finance income was&nbsp;$159.9&nbsp;million, an increase of 7.6%&nbsp;year over year, driven by an improvement in CAF&#8217;s net interest margin percentage and higher average managed receivables.
The provision for loan losses was consistent with expectations set at the end of the second quarter of this year.
Retail used unit sales rose by&nbsp;5.4% Y/Y, comparable store used unit sales increased by&nbsp;4.3%&nbsp;Y/Y and wholesale units increased&nbsp;6.3% Y/Y.
Gross profit per retail used unit was&nbsp;$2,306 (flat Y/Y), and gross profit per wholesale unit was&nbsp;$1,015 (up $54 per unit Y/Y). The Extended Protection Plan margin increased by&nbsp;$53&nbsp;per retail unit to&nbsp;$573.
In the third quarter of fiscal year 2025, the company repurchased 1.5 million shares of common stock for $114.8 million. As of November 30, 2024, the company had $2.04 billion remaining available for repurchase under the outstanding authorization.
The company exited the quarter with cash and equivalents worth&nbsp;$271.9 million. Restricted cash from collections on auto loans receivable totaled $541.15 million. Inventories at quarter-end was&nbsp;$3.665 billion.
Bill Nash, president and chief executive officer, said, &#8221;Our solid execution and a more stable environment for vehicle valuations enabled us to deliver robust EPS growth driven by increases in unit sales and buys, solid margins, growth in CAF income, and ongoing management of SG&amp;A.&#8221;&nbsp;
During the&nbsp;third quarter&nbsp;of fiscal 2025, the company opened one new store in Alliance, Texas.
Investors can gain exposure to the stock via Valued Advisers Trust Kovitz Core Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQTY#NYSE">EQTY</a>) and Invesco Bloomberg Analyst Rating Improvers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPGD#NYSE">UPGD</a>).
Price Action: KMX shares are trading higher by 6.44% to $86.66 premarket at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42569970/carmax-gears-up-for-q3-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analysts" target="_blank" rel="noreferrer noopener">CarMax Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>
Photo via Shutterstock.

Earnings

Large Cap

Topics

EQTY

UPGD

CarMax Q3 Earnings: Solid Growth In Auto Finance Income, Retail And Wholesale Units

CarMax shares are trading higher after the company reported better-than-expected Q3 earnings and sales.

CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) reported quarterly earnings of $0.81 per share which beat the analyst consensus estimate of $0.64 by 26.56 percent. The company reported quarterly sales of $6.223 billion which beat the analyst consensus estimate of $6.042 billion by 3.01 percent. This is a 1.21 percent increase over sales of $6.149 billion the same period last year.

Earnings Beats

CarMax Q3 2025 GAAP EPS $0.81 Beats $0.64 Estimate, Sales $6.223B Beat $6.042B Estimate

CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) will release its third-quarter financial results, before the <a href="https://www.benzinga.com/quote/KMX/earnings">opening bell, on Thursday, Dec. 19</a>.
Analysts expect the Richmond, Virginia-based company to report quarterly earnings at 61 cents per share, up from 52 cents per share in the year-ago period. CarMax projects quarterly revenue of $6.05 billion, compared to $6.15 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 26, the company reported earnings per share of 85 cents, missing the analyst consensus estimate of 86 cents..
CarMax shares fell 2.1% to close at $81.42 on Wednesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/KMX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>JP Morgan analyst Rajat Gupta maintained an Underweight rating and raised the price target from $65 to $70 on Dec. 5. This analyst has an accuracy rate of 77%.</li>
<li>Stephens &amp; Co. analyst Jeff Lick initiated coverage on the stock with an Equal-Weight rating and a price target of $86 on Dec. 5. This analyst has an accuracy rate of 67%.</li>
<li>RBC Capital analyst Steven Shemesh reiterated an Outperform rating with a price target of $82 on Oct. 16. This analyst has an accuracy rate of 65%.</li>
<li>Wedbush analyst Seth Basham reiterated an Outperform rating with a price target of $95 on Oct. 16. This analyst has an accuracy rate of 76%.</li>
<li>Oppenheimer analyst Brian Nagel maintained an Outperform rating with a price target of $105 on Oct. 4. This analyst has an accuracy rate of 73%.</li>
</ul>
Considering buying KMX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="608" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-1024x608.png" alt="" class="wp-image-699158" style="width:622px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-1024x608.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-300x178.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162-768x456.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19033105/image-162.png 1095w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

Pre-Market Outlook

CarMax Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

<h3>Companies Reporting Before The Bell</h3>
• Lamb Weston Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $1.67 billion. 
• Soho House (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHCO#NYSE">SHCO</a>) is expected to report quarterly loss at $0.01 per share on revenue of $332.86 million. 
• FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) is estimated to report quarterly loss at $1.80 per share on revenue of $40.83 million. 
• MBX Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBX#NASDAQ">MBX</a>) is likely to report earnings for its third quarter. 
• Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) is projected to report quarterly earnings at $2.02 per share on revenue of $2.87 billion. 
• Cintas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTAS#NASDAQ">CTAS</a>) is expected to report quarterly earnings at $1.02 per share on revenue of $2.56 billion. 
• Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>) is expected to report quarterly earnings at $1.13 per share on revenue of $1.31 billion. 
• Conagra Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) is projected to report quarterly earnings at $0.68 per share on revenue of $3.15 billion. 
• CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) is estimated to report quarterly earnings at $0.59 per share on revenue of $6.00 billion. 
• Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) is likely to report quarterly earnings at $3.42 per share on revenue of $17.17 billion. 
• FactSet Research Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) is likely to report quarterly earnings at $4.25 per share on revenue of $564.74 million. 
<h3>Companies Reporting After The Bell</h3>
• Mobix Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOBX#NASDAQ">MOBX</a>) is likely to report earnings for its fourth quarter. 
• Innovative Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISSC#NASDAQ">ISSC</a>) is estimated to report earnings for its fourth quarter. 
• BlackBerry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) is projected to report quarterly loss at $0.01 per share on revenue of $149.98 million. 
• Scholastic (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>) is projected to report quarterly earnings at $2.61 per share on revenue of $584.04 million. 
• Mission Produce (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVO#NASDAQ">AVO</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $216.80 million. 
• Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) is likely to report quarterly earnings at $0.83 per share on revenue of $12.47 billion. 
• FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) is estimated to report quarterly earnings at $3.95 per share on revenue of $22.14 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FCEL

ISSC

MOBX

SCHL

Earnings Scheduled For December 19, 2024

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Wolfe Research analyst Nigel Coe initiated coverage on GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with an Outperform rating and announced a price target of $403. GE Vernova shares closed at $343.75 on Wednesday. <a href="https://www.benzinga.com/quote/GEV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stephens &amp; Co. analyst Jeff Lick initiated coverage on CarMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with an Equal-Weight rating and announced a price target of $86. CarMax shares closed at $83.63 on Wednesday. <a href="https://www.benzinga.com/quote/KMX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Jefferies analyst James Heaney initiated coverage on The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) with a Hold rating and announced a price target of $120. Disney shares closed at $116.99 on Wednesday. <a href="https://www.benzinga.com/quote/DIS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs analyst Christine Cho initiated coverage on Bloomin&#8217; Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMN#NASDAQ">BLMN</a>) with a Sell rating and announced a price target of $13. Bloomin Brands shares closed at $12.92 on Wednesday. <a href="https://www.benzinga.com/quote/BLMN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank analyst Scott Deuschle initiated coverage on Curtiss-Wright Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CW#NYSE">CW</a>) with a Buy rating and announced a price target of $452. Curtiss-Wright shares closed at $379.18 on Wednesday. <a href="https://www.benzinga.com/quote/CW/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying GEV stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05075125/image-48-1024x495.png" alt="" class="wp-image-678489" style="width:625px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05075125/image-48-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05075125/image-48-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05075125/image-48-768x371.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05075125/image-48.png 1152w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Initiation

BLMN

This GE Vernova Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Thursday

Ratings for CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) were provided by 17 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
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.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">3</td>
<td align="right">5</td>
<td align="right">8</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">4</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $83.53, a high estimate of $105.00, and a low estimate of $65.00. Surpassing the previous average price target of $81.69, the current average has increased by 2.25%.
<img src="https://www.benzinga.com/files/images/story/2024/1733400028_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive CarMax. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeff Lick</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$86.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$83.00</td>
<td>$81.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$76.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$79.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$82.00</td>
<td>$82.00</td>
</tr>
<tr>
<td>Seth Basham</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Chris Pierce</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$90.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Brian Nagel</td>
<td>Oppenheimer</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$105.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$76.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Chris Pierce</td>
<td>Needham</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Scot Ciccarelli</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$72.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Steven Shemesh</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$82.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$79.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Chris Pierce</td>
<td>Needham</td>
<td>Raises</td>
<td>Buy</td>
<td>$90.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Scot Ciccarelli</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$75.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Rajat Gupta</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$65.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Seth Basham</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$95.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to CarMax. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of CarMax compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for CarMax's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into CarMax's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/KMX/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on CarMax analyst ratings.</a>
<h2>Discovering CarMax: A Closer Look</h2>
CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.
<h3>CarMax's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: CarMax's revenue growth over a period of 3 months has faced challenges. As of 31 August, 2024, the company experienced a revenue decline of approximately -0.85%. This indicates a decrease in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: CarMax's net margin excels beyond industry benchmarks, reaching 1.89%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): CarMax's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.15%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.49%, the company showcases effective utilization of assets.
Debt Management: With a below-average debt-to-equity ratio of 3.11, CarMax adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: Simplified</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Stephens & Co. Initiates Coverage On CarMax with Equal-Weight Rating, Announces Price Target of $86

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