CarMax logged higher profit and sales in the latest quarter, as the used-care retailer sold more vehicles at higher prices.
CarMax stock rises after the used-car retailer posts better-than-expected quarterly earnings.
The nation's largest used-car retailer slashed 145 white-collar jobs, about 4% of its corporate staff, as part of a turnaround plan.
CarMax, Inc. (KMX) is now rated 'sell' due to overvaluation and sentiment-driven price gains. KMX's high PE multiple of 37x is unjustified given negative revenue growth and weak forward guidance. Rising Fed rates threaten auto loan affordability, potentially pressuring KMX's margins and retail sales.
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CarMax (KMX) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
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CarMax (KMX) reported earnings 30 days ago. What's next for the stock?
Four directors snap up CarMax shares on the heels of the auto retailer's first-quarter earnings report.