Traders Buy Shares of CarMax Inc. (KMX) on Weakness
Traders bought shares of CarMax Inc. (NYSE:KMX) on weakness during trading on Wednesday. $68.03 million flowed into the stock on the tick-up and $57.86 million flowed out of the stock on the tick-down, for a money net flow of $10.17 million into the stock. Of all equities tracked, CarMax had the 11th highest net in-flow for the day. CarMax traded down ($1.14) for the day and closed at $54.62
Several equities analysts have recently weighed in on the company. Robert W. Baird increased their price target on CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a report on Wednesday, September 7th. Buckingham Research reaffirmed a “buy” rating and issued a $60.00 target price on shares of CarMax in a report on Tuesday, June 21st. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of CarMax in a report on Wednesday, June 22nd. Wedbush raised their target price on CarMax from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. Finally, Susquehanna started coverage on CarMax in a report on Thursday, August 25th. They issued a “positive” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.47.
The stock has a market capitalization of $10.46 billion, a PE ratio of 17.85 and a beta of 1.46. The firm’s 50-day moving average price is $58.32 and its 200 day moving average price is $53.57.
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CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. CarMax had a net margin of 4.04% and a return on equity of 20.54%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. Equities research analysts forecast that CarMax Inc. will post $3.29 EPS for the current year.
In other CarMax news, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $55.45, for a total value of $3,204,732.75. Following the sale, the chief financial officer now directly owns 72,135 shares of the company’s stock, valued at $3,999,885.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Eric M. Margolin sold 2,000 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $50.75, for a total transaction of $101,500.00. Following the completion of the sale, the executive vice president now directly owns 34,303 shares in the company, valued at $1,740,877.25. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC acquired a new stake in CarMax during the first quarter valued at approximately $39,950,000. Abrams Bison Investments LLC raised its stake in CarMax by 31.6% in the first quarter. Abrams Bison Investments LLC now owns 2,858,787 shares of the company’s stock valued at $146,084,000 after buying an additional 686,131 shares during the last quarter. Wellington Management Group LLP raised its stake in CarMax by 6.1% in the first quarter. Wellington Management Group LLP now owns 3,625,082 shares of the company’s stock valued at $185,242,000 after buying an additional 206,898 shares during the last quarter. Legal & General Group Plc raised its stake in CarMax by 0.3% in the first quarter. Legal & General Group Plc now owns 910,718 shares of the company’s stock valued at $46,534,000 after buying an additional 2,405 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI raised its stake in CarMax by 75.8% in the first quarter. Zurich Insurance Group Ltd FI now owns 37,070 shares of the company’s stock valued at $1,894,000 after buying an additional 15,980 shares during the last quarter.
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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