CarMax Inc ($KMX) Stock Forecast: Up 5.1% Today

What is CarMax Inc?

CarMax (NYSE: KMX) is a well-known company in the automotive retail industry, specializing in the sale of used cars and related financing services. Today, the stock experienced a strong bullish movement in the market.

Why is CarMax Inc going up?

KMX stock is up 5.1% on Sep 26, 2024 14:46

• CarMax reported mixed second-quarter earnings results, with sales beating expectations but profits being weighed down by loan losses.
• Despite the weaker earnings, the market reacted positively to CarMax's performance, possibly due to the overall bullish sentiment in the market with Dow futures gaining around 200 points.
• The options activity for CarMax showed a bullish stance from financial giants, indicating confidence in the company's future prospects.
• The decline in Concentrix Corporation's stock price in the pre-market session may have indirectly contributed to investors shifting focus towards CarMax, leading to its bullish movement.

KMX Price Chart

KMX Technical Analysis

KMX News

CarMax Q2 Earnings: Mixed Results As Sales Beat Expectations But Loan Losses Weigh On Profits - CarMax ( NYSE:KMX )

CarMax, Inc. KMX shares are currently trading higher after the company reported mixed second-quarter earnings results. The company reported earnings per share of 85 cents, missing the analyst consensus estimate of 86 cents. CarMax Auto Finance income was $115.6 million, a decline of 14.4% from ...

https://www.benzinga.com/news/earnings/24/09/41047642/carmax-q2-earnings-mixed-results-as-sales-beat-expectations-but-loan-losses-weigh-on-profits

Concentrix Reports Weak Earnings, Joins CarMax And Other Big Stocks Moving Lower In Thursday's Pre-Market Session - Concentrix ( NASDAQ:CNXC )

U.S. stock futures were higher this morning, with the Dow futures gaining around 200 points on Thursday. Shares of Concentrix Corporation CNXC fell sharply in today's pre-market trading following mixed third-quarter financial results.

https://www.benzinga.com/news/24/09/41044760/concentrix-reports-weak-earnings-joins-carmax-and-other-big-stocks-moving-lower-in-thursdays-pre-mar

CarMax ( KMX ) Lags Q2 Earnings Estimates

CarMax (KMX) delivered earnings and revenue surprises of -1.16% and 2.38%, respectively, for the quarter ended August 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2341738/carmax-kmx-lags-q2-earnings-estimates

CarMax Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call - CarMax ( NYSE:KMX )

CarMax, Inc. KMX will release earnings results for its second quarter, before the opening bell on Thursday, Sept. 26. Analysts expect the Richmond, Virginia-based company to report quarterly earnings at 86 cents per share, up from 75 cents per share in the year-ago period.

https://www.benzinga.com/news/earnings/24/09/41040325/carmax-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call

Decoding CarMax's Options Activity: What's the Big Picture? - CarMax ( NYSE:KMX )

Financial giants have made a conspicuous bullish move on CarMax. Our analysis of options history for CarMax KMX revealed 11 unusual trades. Delving into the details, we found 45% of traders were bullish, while 36% showed bearish tendencies.

https://www.benzinga.com/insights/options/24/09/41014215/decoding-carmaxs-options-activity-whats-the-big-picture

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CarMax Inc Price History

26.08.2024 - KMX Stock was up 5.1%

• CarMax reported mixed second-quarter earnings results, with sales beating expectations but profits being weighed down by loan losses.
• Despite the weaker earnings, the market reacted positively to CarMax's performance, possibly due to the overall bullish sentiment in the market with Dow futures gaining around 200 points.
• The options activity for CarMax showed a bullish stance from financial giants, indicating confidence in the company's future prospects.
• The decline in Concentrix Corporation's stock price in the pre-market session may have indirectly contributed to investors shifting focus towards CarMax, leading to its bullish movement.

11.03.2024 - KMX Stock was down 9.8%

• CarMax (KMX) saw a notable decrease of more than 15% in its stock value following lower sales volume results in the recent earnings announcement.
• Falling short of market anticipations for the fourth quarter contributed to a pessimistic market sentiment and a sharp decline in stock value.
• The company's struggles in a declining used car market added to the overall negative market trend.
• Investor confidence took a hit as CarMax delivered a cautious outlook during its earnings call, intensifying the stock's significant drop in value.

12.05.2024 - KMX Stock was up 5.3%

• Despite bearish options activity, CarMax (KMX) saw a notable positive movement today.
• The conflicting options activity could signal uncertainty or diverse viewpoints from traders regarding CarMax's future performance.
• The stock's bullish uptrend could be influenced by favorable earnings, growth prospects, or market speculation boosting its value.
• Investors are advised to keep a close watch on developments and market sentiment to assess CarMax's future stock direction.

11.03.2024 - KMX Stock was down 13.6%

• CarMax stock experienced a significant bearish movement recently.
• The company reported disappointing fourth-quarter results, with a 27% decrease in profit compared to the previous year.
• Lower gross margins, a decrease in average selling prices, and challenges related to vehicle affordability, inflationary pressures, and consumer confidence contributed to the poor performance.
• The market reacted negatively to these results, causing a sharp decline in CarMax's stock price as investors adjusted their expectations based on the company's underwhelming performance.

11.03.2024 - KMX Stock was down 11.9%

• CarMax reported earnings per share of 32 cents, missing the analyst estimate of 49 cents, and revenue of $5.63 billion, which was below the expected $5.79 billion.
• The stock's poor performance may have been influenced by the overall bearish sentiment in the market, as indicated by the Dow Jones index falling around 100 points.
• Carvana Co (NYSE: CVNA) shares also moved lower in sympathy with CarMax's disappointing earnings results, reflecting a broader negative sentiment towards the automotive retail sector.
• The market reaction suggests that investors were not impressed with CarMax's financial performance for the fourth quarter of 2024, leading to a significant decline in the stock price.

13.04.2024 - KMX Stock was up 4.9%

• CarMax (KMX) saw a notable upward trend today, potentially influenced by positive market sentiment and developments.
• Cresta's recognition as a leader in real-time revenue execution platforms could indirectly benefit CarMax by enhancing operational efficiency and customer service.
• Investors may have been encouraged by Vulcan Value Partners' favorable evaluation and successful performance in the first quarter of 2024, leading to increased interest in CarMax shares.
• Today's bullish market movement for CarMax was likely a result of a combination of positive industry updates and investor confidence in the company's prospects.

11.03.2024 - KMX Stock was down 10.7%

• CarMax stock (KMX) plummeted after reporting fiscal fourth-quarter earnings that fell short of analysts' forecasts, indicating a lackluster performance.
• The decline in CarMax shares was further exacerbated by concerns over "vehicle affordability challenges" impacting demand for used cars, leading to a negative sentiment among investors.
• The disappointing financial results and slowing demand were likely factors contributing to the bearish movement in CarMax stock, prompting prudent investors to steer clear of the company for the time being.

11.03.2024 - KMX Stock was down 11.7%

• Several factors are likely contributing to the recent bearish movement in CarMax's stock price:
• The latest earnings report indicated lower sales volume, impacting both revenue and earnings negatively.
• The overall deflation in the used car industry is presenting difficulties for CarMax and impacting investor sentiment.
• A price target reduction and a "Hold" rating by analysts may have added to the downward pressure on the stock.
• The broader market trend of decreasing stocks, as observed with Fastenal Co. and other firms, might also be influencing CarMax's current bearish trajectory.

10.06.2024 - KMX Stock was up 5.3%

• Despite receiving a "Sell" rating, CarMax's stock demonstrated an upward trend, indicating potential divergence in investor outlook regarding the company's future.
• The "Sell" rating upgrade could serve as a contrary signal, prompting a reevaluation of the stock and potentially increasing investor interest.
• The optimistic stock movement suggests investor confidence in CarMax's ability to tackle industry challenges and leverage opportunities, despite the adverse rating adjustment.

10.06.2024 - KMX Stock was up 5.9%

• The surge in CarMax's stock value could be linked to the generally positive market sentiment, as both the S&P 500 and Nasdaq marked all-time highs amidst optimism regarding potential Federal Reserve rate adjustments.
• Despite a recent upgrade of CarMax to a "sell" recommendation, investors may have reacted favorably to strong financial performance and market conditions, contributing to the upward movement of the stock.
• This showcases that stock movements are influenced by a variety of factors beyond analyst evaluations, emphasizing the need to consider the wider market landscape when making investment choices.

11.06.2024 - KMX Stock was up 5.0%

• CarMax (KMX) stock rose despite a recent "Sell" rating it received.
• Positive market sentiment and potential rate cuts by the Federal Reserve may have influenced the stock's upward movement.
• Investors might have focused on strong financial performance and market demand for used vehicles.
• The stock's rise could also be linked to the positive movement of Carvana's stock, reflecting optimism towards the used car industry in general.

01.07.2024 - KMX Stock was down 3.8%

• The insider selling of stock options by CarMax's EVP and COO might have signaled a lack of confidence in the company's future prospects, potentially contributing to the bearish movement.
• The overall market sentiment towards risk-on stocks due to potential rate cuts by the Federal Reserve could have shifted investor focus away from CarMax, leading to the bearish movement.
• The mixed quarterly results and stock price volatility mentioned in the investor letter from Vulcan Value Partners may have raised concerns among investors, further impacting CarMax's stock performance negatively.