CarMax: Accelerating Repurchases And Laser Focused On Margins Per Unit
KMXCarMax(KMX) Seeking Alpha·2024-06-22 00:58

DWithers/iStock via Getty Images When we last covered CarMax, Inc. (NYSE:KMX) we suggested a buy sub-70afewmonthsagowhenthestockgotnailedfollowingQ4earnings.KMXisastockthatweroutinelycover,asitprovidessomeinsightintobothcardemandandthestateoftheconsumer,andtrendsininflationinusedcarpricing.WehavetradedKMXsuccessfullymanytimes,andfollowingthelastbuycall,itralliedfromthehighs70 a few months ago when the stock got nailed following Q4 earnings. KMX is a stock that we routinely cover, as it provides some insight into both car demand and the state of the consumer, and trends in inflation in used car pricing. We have traded KMX successfully many times, and following the last buy call, it rallied from the highs 60's to over $75. But otherwise, shares have been mostly sideways. We th ...