These Analysts Revise Their Forecasts On CarMax After Q3 Results

CarMax Inc. (NYSE:KMX) reported better-than-expected third-quarter 2025 earnings on Thursday. The used-car retail giant reported earnings per share of 43 cents, beating the analyst consensus estimate of 39 cents. Adjusted earnings per share for the quarter were 51 cents, which excluded restructuring charges of 8 cents per share. Quarterly sales of $5.794 billion, down 6.9% year-over-year, surpassed the Street view of $5.678 billion. “Our unmatched physical and digital infrastructure, beloved national brand, and award-winning culture provide us with incredible advantages. Despite these advantages, based on recent results, it is clear CarMax needs change,” said David McCreight, Interim President and Chief Executive Officer. “Tom and I are committed to positioning CarMax for success while the Board identifies the right permanent CEO to lead CarMax.” CarMax shares dipped 1.6% to $38.71 on Friday. These analysts made changes to their price targets on CarMax following earnings announcement. Mizuho analyst David Bellinger maintained CarMax with a Neutral and lowered the price target from $46 to $36. Wedbush analyst Scott Devitt maintained the stock with a Neutral and cut the price target from $40 to $36. Stephens & Co. analyst Jeff Lick maintained CarMax with an Equal-Weight rating and lowered the price target from $39 to $36. JP Morgan analyst Rajat Gupta maintained CarMax with an Underweight rating and lowered the price target from $30 to $28. RBC Capital analyst Steven Shemesh maintained the stock with a Sector Perform and raised the price target from $34 to $37. Considering buying KMX stock? Here’s what analysts think: Read This Next: Wall Street’s Most Accurate Analysts Weigh In On 3 Real Estate Stocks With Over 3% Dividend Yields Photo via Shutterstock