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Mon, Feb. 1, 6:58 AM| Mon, Feb. 1, 6:58 AM | 2 Comments
Tue, Jan. 12, 8:12 AM
- Oppenheimer upgrades CarMax (NYSE:KMX) to an Outperform rating from perform on a valuation call. CarMax was pulled down sharply after AutoNation warned last week.
- The investment firm thinks used car sales are poised to bounce back this year.
- Oppy has a $60 price target on CarMax vs. yesterday's close of $46.99.
Mon, Jan. 11, 9:27 AM
Wed, Jan. 6, 10:06 AM
- AutoNation (NYSE:AN) CEO Mike Jackson warned that the company's strong pace of sales growth in December was boosted by "significant retail discounts" amid elevated inventory.
- "This plus 9% is misleading," Jackson told CNBC during an interview after the sales report was posted.
- AutoNation is down 11%, while peers Lithia Motors (LAD -10.3%), Asbury Automotive Group (ABG -7.4%), Group 1 Automotive (GPI -7.4%), Sonic Automotive (SAH -4%), and CarMax (KMX -4%) are also lower.
- Previously: Strong demand for domestic cars paces AutoNation (Jan. 06 2016)
Dec. 18, 2015, 9:15 AM
Dec. 18, 2015, 7:23 AM
- CarMax (NYSE:KMX) reports used vehicles unit sales rose 3.2% to 143,673, whereas comparable stores fell 0.8% in Q3.
- Used vehicle sales increased 4.1% to $2.91B.
- New vehicle sales decreased 22.5% to $42.3M during the period. Unit sales declined 21.6% to 1,576.
- Total wholesale vehicle unit sales grew 3.4% to 94,066 due to growth in store base and total sales +6.7% to $513.8M.
- CarMax Auto Finance income rose 2.9% to $92.3M.
- Average selling prices: Used vehicles +0.9% to $20,094, New vehicles -1.2% to $26,720, Wholesale vehicles +2.3% to $5,243.
- Gross profit per used vehicle -0.6% to $2,160.
- Gross profit per wholesale vehicle +2.4% to $949.
- FY2016 Guidance: Capital expenditure: ~$360M.
Dec. 18, 2015, 6:52 AM
Dec. 17, 2015, 5:30 PM
Oct. 14, 2015, 9:12 AM
- Retail sales improved 2.4% Y/Y with some categories helping to offset the 20% drop in gasoline station sales.
- Clothing store sales improved 0.9% M/M and 4.7% Y/Y. Both marks were much higher than sales churned up from department stores.
- As expected, auto dealers and auto parts stores (ABG, AN, CPRT, GPI, KMX, LAD, PAG, AAP, AZO, ORLY, PBY) showed a brisk 9% Y/Y gain.
- Furniture and home furnishings store sales were also ahead of the broad retail sales growth numbers with gains of 0.6% M/M and 5.3% Y/Y.
- Previously: Retail sales missed consensus in September (Oct. 14 2015)
- Related ETFs: IYK, IYC, SCC, UCC, UGE, SZK
Sep. 24, 2015, 9:42 AM
- CarMax (KMX -0.9%) says it will hire 2K full-time and part-time positions in the U.S.
- The company says it intends to open between 13 and 16 stores each year over the next several years.
Sep. 23, 2015, 10:37 AM
- CarMax (KMX -2.4%) is one of the leading decliners in the S&P 500 Index after Oppenheimer issues a downgrade.
- The investment firm lowers its rating to Perform from Outperform on used car sales growth concerns.
- Oppy still has a favorable long-term view on the auto retailer.
Sep. 22, 2015, 7:51 AM
- CarMax (NYSE:KMX) reports used vehicle sales increased 7.9% to $3.150B in Q2 on a 9.2% gain in units moved.
- New vehicle sales fell 13.5% to $60.5M during the period. Unit sales -12.9%.
- Wholesale vehicle sales were up 11.6% to $592M. Unit sales +8.7%.
- Average selling price: Used -1.1 to $19,983; New -0.7% to $26,799; Wholesale +1.7% to $5,336.
- Total gross profit per unit +13.4% to $3,284.
- Previously: CarMax beats by $0.06, misses on revenue
Sep. 22, 2015, 7:38 AM
- CarMax (NYSE:KMX): Q2 EPS of $0.82 beats by $0.06.
- Revenue of $3.88B (+7.8% Y/Y) misses by $100M.
Sep. 21, 2015, 6:52 PM
- Wynn Resorts (NASDAQ:WYNN), Viacom (NASDAQ:VIAB) and Dollar Tree (NASDAQ:DLTR) headline Goldman Sachs' list of 25 companies that could post outsized returns even as more and more stocks are moving in lock-step.
- Goldman’s picks come as return dispersion - the performance gap among stocks - has sunk lately amid turmoil in China and concerns about when the Fed will raise interest rates that has pushed stock correlations to their highest level since 2011.
- Given the low-dispersion setting, Goldman says investors should focus on these 25 stocks that have high “dispersion scores” and 15%-plus upside to the firm’s targets: WYNN, VIAB, DLTR, UAL, LUV, URBN, CBG, JNPR, MPC, NFLX, HBI, SIG, CRM, CERN, VLO, KMX, ENDP, CTSH, ISRG, ETFC, TSN, CCE, CI, REGN, GT
Sep. 21, 2015, 5:30 PM
Sep. 21, 2015, 9:22 AM
- CarMax (NYSE:KMX) announces a multi-year deal with the University of Minnesota which includes branding opportunities at the football stadium and through digital channels.
- The company's tie-in with the Golden Gophers is an attempt to grow its presence in the Minneapolis-St. Paul metropolitan region.
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