Used-car retail giant CarMax Inc (NYSE: KMX) on Thursday reported disappointing second-quarter results.
Check CMS stock’s latest moves here.
Here are some key analyst takeaways:
- Oppenheimer analyst Brian Nagel downgraded the rating from Outperform to Perform, while eliminating the price target.
- Needham analyst Chris Pierce maintained a Buy rating, while slashing the price target from $92 to $60.
- Truist Securities analyst Scot Ciccarelli reiterated a Hold rating, while cutting the price target from $74 to $47.
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Oppenheimer: CarMax’s earnings declined nearly 25% to 64 cents per share, coming in significantly short of Street expectations of $1.04 per share, Nagel said in the downgrade note. The earnings miss was due to softer used car unit comps, which declined by 6.3% versus expectations of 1.1% growth and an increase in incremental loan loss provisions, he …