CarMax (KMX) – Investment Analysts’ Weekly Ratings Updates
Several brokerages have updated their recommendations and price targets on shares of CarMax (NYSE: KMX) in the last few weeks:
- 9/19/2016 – CarMax was given a new $63.00 price target on by analysts at Goldman Sachs Group Inc.. They now have a “buy” rating on the stock.
- 9/13/2016 – CarMax was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “CarMax’s estimates have inched up ahead of the company’s second-quarter fiscal 2017 earnings release. The company has a mixed record of earnings surprises in recent quarters. The company’s focus on the used-vehicle market and its aggressive store-expansion strategy should help it outperform peers. CarMax also tries to enhance shareholder value through aggressive share repurchases. However, high competition and the company’s weak financial position pose concerns. Declining other sales and revenues is another hurdle.”
- 9/12/2016 – CarMax was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $57.52 price target on the stock.
- 9/9/2016 – CarMax was downgraded by analysts at Buckingham Research from a “buy” rating to a “neutral” rating. They now have a $63.00 price target on the stock, up previously from $59.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
- 9/7/2016 – CarMax had its price target raised by analysts at Robert W. Baird from $58.00 to $64.00. They now have a “neutral” rating on the stock.
- 8/25/2016 – CarMax is now covered by analysts at Susquehanna. They set a “positive” rating and a $70.00 price target on the stock.
- 8/18/2016 – CarMax had its price target raised by analysts at Wedbush from $44.00 to $55.00. They now have a “neutral” rating on the stock.
CarMax Inc. (NYSE:KMX) traded down 1.72% on Wednesday, reaching $54.80. The company had a trading volume of 3,768,277 shares. The company has a 50-day moving average of $58.35 and a 200 day moving average of $53.56. CarMax Inc. has a one year low of $41.25 and a one year high of $60.81. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 17.91 and a beta of 1.46.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. The company earned $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. CarMax had a return on equity of 20.54% and a net margin of 4.04%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS. On average, equities research analysts predict that CarMax Inc. will post $3.29 EPS for the current year.
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In related news, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the business’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $55.45, for a total transaction of $3,204,732.75. Following the completion of the transaction, the chief financial officer now owns 72,135 shares of the company’s stock, valued at approximately $3,999,885.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edwin J. Hill sold 51,875 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $57.59, for a total value of $2,987,481.25. Following the transaction, the executive vice president now directly owns 36,943 shares of the company’s stock, valued at approximately $2,127,547.37. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
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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