Here’s one stock hitting a 52-week high and one finding a 52-week low today:
New High: CarMax
Shares of CarMax (NYSE:KMX) have gained more than 7% so far today, sending the stock to not just a 52-week high, but an all-time high. The company’s price-tag of over $37 makes for solid 23% gains in 2012 thus far.
The upwards movement came as the company report a better-than-expected rise in third-quarter earnings. The car dealership chain earned 41 cents per share, up from 36 cents per share at the same time last year. Revenue also gained an impressive 15% year-over-year, while same-store sales improved by 12%.
New Low: Bed Bath & Beyond
Retailer Bed Bath & Beyond (NASDAQ:BBBY) was in the red nearly double-digits by mid-morning thanks to a not-so-hot Q4 outlook. Shares of the homes furnishing company hit a new 52-week low as a result, trading for under $55 — around 6% off from the price at the start of the year and more than 25% off from BBBY’s 52-week high.
The company beat Q3 expectations for profit, but that wasn’t enough to stop bearish backlash against lackluster sales, the aforementioned poor outlook and countless analyst downgrades. Credit Suisse, Barclay’s, J.P. Morgan and others all lowered their price targets for the stock.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.