KMX stock was in a strong looking uptrend in after-hours trading on December 19, 2019.

The was a large $60K block call order with a January 17, 2020 expiration and a $100 strike today.

The company will be reporting financial results for the third quarter ending November 30, 2019, before the market opens tomorrow, December 20, 2019. It looks like traders are front-running what they think will be a positive report.

On December 18, 2019, RBC Capital analyst Scot Ciccarelli raised his price target on CarMax to $108 and kept his Outperform rating ahead of its Q3 earnings this week, saying that the company’s comps headwinds have started to ease and its vehicle depreciation rates are “normalizing”. The analyst adds that while the expense growth at CarMax remains elevated, its “omni-channel rollout has had early positive results”. Ciccarelli also expects the company to generate an improved earnings flow-through in FY21-22.

On December 16, 2019, Oppenheimer analyst Brian Nagel raised his price target for CarMax to $118 from $100 and maintained an Outperform rating. In a research note to investors, Nagel says that ahead of the company’s upcoming Q3 report on December 20, he evaluated trends at the chain, and said that while more challenging comparisons loom, he views underlying momentum at CarMax as intact and believes that shares have yet to reflect fully the power of the company’s now more digitally-driven operating model.

finviz dynamic chart for  kmx