CarMax Inc. (KMX) Trading Down 2.5%
CarMax Inc. (NYSE:KMX) was down 2.5% during trading on Wednesday . The company traded as low as $53.23 and last traded at $54.39, with a volume of 3,392,562 shares. The stock had previously closed at $55.76.
A number of equities research analysts have commented on KMX shares. Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, September 13th. Vetr downgraded CarMax from a “buy” rating to a “hold” rating and set a $57.52 price target for the company. in a research note on Monday, September 12th. Wedbush reaffirmed a “hold” rating and set a $44.00 price target on shares of CarMax in a research note on Thursday, June 16th. Goldman Sachs Group Inc. set a $63.00 price target on CarMax and gave the stock a “buy” rating in a research note on Monday. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 price target (down from $60.00) on shares of CarMax in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. CarMax presently has a consensus rating of “Hold” and a consensus price target of $62.47.
The firm has a 50 day moving average of $58.35 and a 200 day moving average of $53.56. The stock has a market cap of $10.46 billion, a P/E ratio of 17.85 and a beta of 1.46.
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CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. CarMax had a return on equity of 20.54% and a net margin of 4.04%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter last year, the business posted $0.79 EPS. CarMax’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts expect that CarMax Inc. will post $3.29 earnings per share for the current fiscal year.
In related news, CEO Thomas J. Folliard sold 271,435 shares of the firm’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $55.39, for a total transaction of $15,034,784.65. Following the sale, the chief executive officer now owns 758,517 shares of the company’s stock, valued at approximately $42,014,256.63. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Natalie L. Wyatt sold 1,417 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $57.81, for a total value of $81,916.77. Following the sale, the vice president now directly owns 3,020 shares in the company, valued at approximately $174,586.20. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of CarMax during the fourth quarter valued at about $93,465,000. Chevy Chase Trust Holdings Inc. raised its position in shares of CarMax by 0.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 165,152 shares of the company’s stock valued at $8,439,000 after buying an additional 1,447 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of CarMax by 12.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,713 shares of the company’s stock valued at $2,387,000 after buying an additional 5,060 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in shares of CarMax by 4.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 47,655 shares of the company’s stock valued at $2,435,000 after buying an additional 2,236 shares in the last quarter. Finally, First Manhattan Co. raised its position in shares of CarMax by 7.8% in the first quarter. First Manhattan Co. now owns 145,811 shares of the company’s stock valued at $7,450,000 after buying an additional 10,583 shares in the last quarter.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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