CarMax Higher After Q4 Beat

CarMax, Inc KMX shares are trading higher by $0.80 at $57.46 in Thursday's session.

The catalyst for the modest rally is a Q4 EPS beat of $0.02 along with a slight beat for sales. The company reported Q4 comps were up 8.7 percent.

Expectations for the report were very low as CarMax's stock shed over $3.00 since its March 30 close of $60.06 as the issue ended Wednesday's session at $56.66. The stock has been in prolonged decline since peaking in February at $69.11.

Off the open, it appeared the Street wasn't satisfied with the report and pounded the issue down to $54.29, which surpassed its former low for the move ($55.60) by over a dollar. That low coincided with its November 17 low of $54.17.

The rebound off that depressed level stopped shy of Wednesday's high ($58.05), as the current high stands at $57.85.