CarMax, Inc (KMX) Stock Down on Q2 Earnings Miss

Carmax Inc

KMX stock was down by 2% as of Noon Wednesday. Most recent session's volume of 5.55 million shares greater than its average volume of 2.45 million shares.

The Company has received rating from WSJ analysts. Wedbush increased their target price on CarMax from $44.00 to $55.00 and gave the company a "neutral" rating in a research note on Thursday, August 18th. The stock has been given a mean "OVERWEIGHT" rating after the consensus analysis of "35" Analysts. The share price of the stock plunged -9.37% for the year.

Shares of CarMax (NYSE:KMX) opened at 54.62 on Monday. The stock's price moved below its 200 day moving average of $53.73.

The stock's price is trading higher to its 52 week low of $41.25 with +32.41% and moving down from its 52 week high price of $60.81 with -10.18%.

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CarMax came under pressure early in the session after the used vehicle seller reported weaker than expected second quarter revenues due to slowing showroom traffic. Net earnings for the quarter ended August 31 were $162.4 million, or 84 cents a share, compared with $172.2 million, or 82 cents a share, in the same period a year ago. Revenue rose 2.9% to $4 billion. CarMax had a return on equity of 20.54% and a net margin of 4.04%. CarMax explained that with one fewer Monday in this year's fiscal second quarter compared to the same period last year, the company had one fewer major auction, which tends to drive a large portion of CarMax's wholesale business. During the same period previous year, the business posted $0.79 EPS. As formerly revealed, net earnings for last year's second quarter was raised by $6.4 million, net of tax, or $0.03 per diluted share, related to a change in timing of our recognition of reconditioning overhead costs. The stock's weekly volatility was 2.16% and the RSI amounts to 34.73. A trade or transaction occurs when the buyer and seller agree on a price for the security. The stock was sold at an average price of $52.95, for a total value of $105,900.00. 1 analysts have suggested "Sell" for the company. The disclosure for this sale can be found here.

HB Fuller Co (FUL) - The company is seen to report its earnings for the current quarter at $0.67 a share on $534.70 million sales. 8 analysts said "Hold" signal for the stock. Mizuho Asset Management Co.

In recent years, the auto industry has seen record sales for new vehicles, and many have seen that as evidence of a strong USA economy. Ltd. now owns 3,086 shares of the company's stock valued at $151,000 after buying an additional 1,472 shares during the period.