Analysts Brian Nagel and Dan Farrell pointed out that the company would not discuss business trends during the intra-quarter period when they met the senior management recently in California. Their assumption is that the focus is to take be more opportunistic. The company's second-quarter EPS came in line with the Street's estimates.
In a research note, the brokerage said, "We believe that a finance pre-qualification test has resonated very well with consumers and is now set for rollout. KMX continues to evaluate options for unit expansion and remains committed to at least a base level of share repurchases."
Oppenheimer sees improving trend for CarMax pointing out the easier comparisons and a flood of off-lease vehicles that is planning to hit the market. "Ongoing challenges in subprime are apt to continue to mask, at least somewhat, better core sales trends at the chain," the firm told its clients.
The analysts have maintained their Outperform rating on CarMax shares.
At last check, the stock shed $0.23, or 0.45 percent, to $51.28.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
