CarMax Inc (NYSE:KMX) Raised to Buy at BidaskClub
CarMax Inc (NYSE:KMX) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.
A number of other research analysts also recently issued reports on KMX. Wedbush set a $73.00 price target on shares of CarMax and gave the stock a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, July 11th. Royal Bank Of Canada restated a “market perform” rating and issued a $63.00 price target (down previously from $71.00) on shares of CarMax in a research report on Tuesday, July 4th. Deutsche Bank AG dropped their price target on shares of CarMax from $73.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Finally, CIBC restated a “buy” rating on shares of CarMax in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $69.00.
CarMax (NYSE KMX) traded down 0.94% during midday trading on Friday, reaching $64.42. 1,367,884 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $62.19 and its 200 day moving average price is $62.76. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 18.50 and a beta of 1.34. CarMax has a 1-year low of $47.50 and a 1-year high of $69.11.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that CarMax will post $3.70 EPS for the current year.
In related news, EVP Eric M. Margolin sold 26,838 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $64.15, for a total transaction of $1,721,657.70. Following the transaction, the executive vice president now owns 55,342 shares in the company, valued at approximately $3,550,189.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 50,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the transaction, the director now owns 509,166 shares in the company, valued at approximately $31,267,884.06. The disclosure for this sale can be found here. Insiders have sold a total of 97,497 shares of company stock worth $6,103,933 in the last quarter. 1.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. BlackRock Inc. increased its position in CarMax by 3,199.4% in the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after buying an additional 10,752,554 shares during the last quarter. William Blair Investment Management LLC bought a new position in CarMax during the first quarter worth about $47,370,000. Morgan Stanley increased its position in CarMax by 156.4% in the first quarter. Morgan Stanley now owns 456,262 shares of the company’s stock worth $27,019,000 after buying an additional 278,328 shares during the last quarter. Russell Investments Group Ltd. increased its position in CarMax by 42.2% in the first quarter. Russell Investments Group Ltd. now owns 869,717 shares of the company’s stock worth $51,505,000 after buying an additional 258,213 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in CarMax by 1.4% in the first quarter. Vanguard Group Inc. now owns 17,805,146 shares of the company’s stock worth $1,054,422,000 after buying an additional 247,809 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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