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logoArgusApril 06, 2021

CarMax, Inc.: Reiterating BUY and boosting target to $145

Consumer Cyclical
Current Price
Price Target
Earnings Estimate

CarMax Inc. is primarily a retailer of used vehicles in the U.S. Established in 1993, the company operates over 200 used car stores. CarMax has two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Sales Operations segment sells used vehicles, purchases used vehicles, arranges financing options, and sells related products and services. CAF provides auto financing to CarMax customers, services the loans it originates, provides billing statements, collects payments, and coordinates the repossession of vehicles as needed. The company also receives income from expanded protection plans and service revenue. The company reported FY21 revenue of $19 billion. Headquartered in Richmond, Virginia, it has approximately 26,000 employees.

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Analyst Profile

Kristina Ruggeri

Analyst: Generalist
Kristina began working with Argus Research in 2019. She is responsible for covering selected Consumer Discretionary and Consumer Staples Stocks and has nearly 20 years of experience in the financial services industry. Kristina began her career at Price Waterhouse where she audited asset managers, broker dealers, and banks. Later she joined J.P. Morgan as a financial analyst. In 1994, Kristina joined Bankers Trust Company where she managed the daily operations of several equity derivative funds and later implemented tools to mitigate risk and improve workflow processes. Prior to working with Argus, Kristina was a Senior Director at S&P Global where she led key competitive intelligence and market research initiatives and executed programs to better understand client needs. Kristina earned a BS in Accounting and a minor in Spanish from Bucknell University. She holds an MBA in Finance from New York University’s Stern School of Business and is a Certified Public Accountant. Kristina is also a certified teacher in the State of New Jersey and devotes time to working with elementary and middle school-aged students.