CarMax Posts Strong Q2 Results as Used Car Sales Rise
The used-vehicle market presents many challenges to companies seeking to profit from it, and CarMax (NYSE: KMX) knows quite well what used-car sellers have to do to overcome some of the unique difficulties they face. In the past month, CarMax has had to deal with unusual obstacles in the aftermath of Hurricanes Harvey and Irma, and some investors have been nervous about how much the natural disasters would drag on the results of the leader in no-hassle used-car pricing.
Coming into its fiscal second-quarter report on Friday, CarMax investors fully expected that the company would be able to sustain its strong momentum and produce solid growth. Its results were even better than most were hoping to see, and the negligible impact that it has suffered from Hurricane Harvey in particular reassured shareholders that the company's success story remains intact. Let's take a closer look at CarMax's latest results, and consider what's ahead for the car retailer.
Image source: CarMax.
Source: Fool.com
Carmax Inc. Stock
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As a result the target price of 82 € shows a slightly positive potential of 8.64% compared to the current price of 75.48 € for Carmax Inc..
