Market Overview

UPDATE: Deutsche Bank Raises PT on CarMax Following Strong Quarter Results

Share:
Related KMX
Fast Money Halftime Report Final Trade From January 27
Stifel Says 'State Of CarMax Union Is Strong' After Meetings With Management
Can Penske, Other Car Dealers Maintain Solid Results? (Investor's Business Daily)

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on CarMax (NYSE: KMX), and raised the price target from $31.50 to $40.00.

In the report, Deutsche Bank noted, “Carmax reported a very strong quarter, posting EPS of $0.64 (vs cons / DBe $0.58 / $0.53). Vast majority of upside ($0.09 vs our est) was driven by volume (same-store retail +17% vs consensus 10%) and strong conversion (45% of YOY gross profit dropped to bottom-line as SG&A per-unit was down 6% YOY). And pricing was strong (gross margin per-unit was flat YOY and CAF interest rates were essentially flat sequentially). Maintain Hold.”

CarMax closed on Friday at $44.59.

Latest Ratings for KMX

DateFirmActionFromTo
Nov 2014Morgan StanleyDowngradesOverweightEqual-weight
Sep 2014Bank of AmericaMaintainsBuy
Jun 2014KeyBancInitiates Coverage onBuy

View More Analyst Ratings for KMX
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Greg PooleAnalyst Color Price Target Analyst Ratings

 

Related Articles (KMX)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional