CarMax, Inc (KMX) Downgraded by ValuEngine to “Hold”
CarMax, Inc (NYSE:KMX) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other research analysts have also commented on KMX. Morgan Stanley lowered CarMax from an “equal weight” rating to an “underweight” rating and set a $48.00 price target on the stock. in a research report on Wednesday, February 1st. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, February 21st. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $72.00 price target on shares of CarMax in a research report on Monday, March 13th. Wedbush reaffirmed a “neutral” rating and set a $60.00 price target on shares of CarMax in a research report on Monday, March 27th. Finally, Royal Bank of Canada reaffirmed a “market perform” rating and set a $63.00 price target (down previously from $71.00) on shares of CarMax in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $67.00.
Shares of CarMax (NYSE:KMX) traded up 1.59% on Friday, reaching $64.72. The company’s stock had a trading volume of 1,736,238 shares. The stock has a market capitalization of $12.02 billion, a P/E ratio of 19.85 and a beta of 1.34. CarMax has a 1-year low of $45.06 and a 1-year high of $69.11. The company has a 50 day moving average of $58.59 and a 200 day moving average of $61.34.
CarMax (NYSE:KMX) last posted its earnings results on Thursday, April 6th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.02. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.94 billion. CarMax had a return on equity of 21.02% and a net margin of 3.96%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 earnings per share. Equities research analysts expect that CarMax will post $3.53 earnings per share for the current fiscal year.
In other news, Director Edgar H. Grubb sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $58.24, for a total value of $116,480.00. Following the transaction, the director now owns 42,005 shares of the company’s stock, valued at $2,446,371.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. First Bank & Trust raised its position in shares of CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares in the last quarter. Credit Agricole S A raised its position in shares of CarMax by 6.9% in the fourth quarter. Credit Agricole S A now owns 38,062 shares of the company’s stock worth $2,451,000 after buying an additional 2,473 shares in the last quarter. Steinberg Global Asset Management raised its position in shares of CarMax by 6.9% in the third quarter. Steinberg Global Asset Management now owns 46,666 shares of the company’s stock worth $2,490,000 after buying an additional 2,996 shares in the last quarter. LFL Advisers LLC acquired a new position in shares of CarMax during the fourth quarter worth $10,624,000. Finally, Quantitative Systematic Strategies LLC raised its position in shares of CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock worth $2,085,000 after buying an additional 9,221 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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