Wedbush Comments on CarMax’s Q1 Earnings (NYSE:KMX)

CarMax, Inc. (NYSE:KMX) – Equities research analysts at Wedbush issued their Q1 2026 earnings estimates for shares of CarMax in a research report issued on Monday, May 19th. Wedbush analyst S. Devitt forecasts that the company will earn $1.23 per share for the quarter. Wedbush currently has a “Outperform” rating and a $90.00 price objective on the stock. The consensus estimate for CarMax’s current full-year earnings is $3.23 per share. Wedbush also issued estimates for CarMax’s Q2 2026 earnings at $1.09 EPS, Q3 2026 earnings at $0.87 EPS, Q4 2026 earnings at $0.73 EPS, FY2026 earnings at $3.92 EPS and FY2027 earnings at $4.72 EPS.

A number of other research analysts have also issued reports on KMX. Needham & Company LLC decreased their target price on shares of CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Evercore ISI reduced their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Finally, StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.73.

CarMax Stock Performance

Shares of NYSE:KMX opened at $63.30 on Wednesday. The company’s 50 day moving average price is $69.76 and its two-hundred day moving average price is $77.64. CarMax has a 12-month low of $61.67 and a 12-month high of $91.25. The firm has a market cap of $9.67 billion, a PE ratio of 21.46, a PEG ratio of 1.67 and a beta of 1.45. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

Insider Buying and Selling at CarMax

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the company’s stock in a transaction dated Thursday, April 24th. The stock was purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the completion of the purchase, the director now owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On CarMax

Several large investors have recently modified their holdings of KMX. Norges Bank bought a new position in shares of CarMax during the fourth quarter valued at $423,187,000. Kovitz Investment Group Partners LLC raised its stake in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in CarMax by 626.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock valued at $70,364,000 after buying an additional 778,652 shares during the period. AQR Capital Management LLC lifted its holdings in CarMax by 82.9% in the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock valued at $114,465,000 after buying an additional 634,390 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in CarMax by 8,675.6% in the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company’s stock valued at $40,193,000 after buying an additional 509,952 shares during the period.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.