An anticipated surge in defaults on auto loans could spell trouble for CarMax, a leading online car dealer. Despite having an Outperform rating on CarMax stock (KMX), Wedbush analyst Seth Basham has revised his price target from $90 to $80. This adjustment comes on the heels of an analysis of CarMax Auto Finance's latest auto-loan data. According to Basham, the delinquency rate … [Read more...] about Auto Loan Defaults May Pose Challenges for CarMax
CarMax
CarMax Stock Upgraded to Outperform
Analyst Seth Basham Raises Price Target Wedbush analyst Seth Basham has upgraded his rating on CarMax's stock to Outperform, with a revised price target of $90. This comes ahead of the company's fiscal 2024 second-quarter earnings results. CarMax's stock (ticker: KMX) was trading nearly 2% higher at $78.07 in premarket trading. Recovery Amidst Challenging Year Like many players … [Read more...] about CarMax Stock Upgraded to Outperform
CarMax Reports Decline in Q2 Earnings
CarMax Inc.'s stock (KMX) experienced a 6.5% decline in premarket trade on Thursday following the release of its second-quarter earnings report. The Richmond, Va.-based used car retailer faced continued pressure within the sector, resulting in a decrease in net income compared to the same period last year. For the quarter ending on August 31, CarMax reported a net income of … [Read more...] about CarMax Reports Decline in Q2 Earnings
