Oppenheimer Maintains an 'Outperform' on CarMax (KMX); Meeting W/Mgmt Offered Mixed Comments
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Price: $48.21 --0%
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 21
Rating Summary:
10 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 17 | New: 21
Trade KMX Now!
Oppenheimer maintains an 'Outperform' on CarMax (NYSE: KMX) price target of $38.00.
Analyst, Brian Nagel, made several brief statements after meeting with CarMax senior management: 1) The tone of KMX suggests that used car sales remain sluggish as a result of ongoing supply disruptions and a still cautious mid-tier consumer; 2) We do not envision a near-term shift higher in top line trends at KMX. We do believe, however, that the pieces are in place for a sustained sales recovery at the chain over the next several quarters; 3) Management does not comment upon business trends intra-quarter.
Nagel said, "We view KMX as one of the most compelling longer-term new unit growth stories in hardlines retail...The recent move lower in KMX shares implies to us that the market has grown frustrated with persistent soft sales. Downbeat sentiment creates an opportunity for longer-term investors."
For an analyst ratings summary and ratings history on CarMax click here. For more ratings news on CarMax click here.
Shares of CarMax closed at $25.22 yesterday, with a 52 week range of $22.77-$35.17.
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Analyst, Brian Nagel, made several brief statements after meeting with CarMax senior management: 1) The tone of KMX suggests that used car sales remain sluggish as a result of ongoing supply disruptions and a still cautious mid-tier consumer; 2) We do not envision a near-term shift higher in top line trends at KMX. We do believe, however, that the pieces are in place for a sustained sales recovery at the chain over the next several quarters; 3) Management does not comment upon business trends intra-quarter.
Nagel said, "We view KMX as one of the most compelling longer-term new unit growth stories in hardlines retail...The recent move lower in KMX shares implies to us that the market has grown frustrated with persistent soft sales. Downbeat sentiment creates an opportunity for longer-term investors."
For an analyst ratings summary and ratings history on CarMax click here. For more ratings news on CarMax click here.
Shares of CarMax closed at $25.22 yesterday, with a 52 week range of $22.77-$35.17.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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