CarMax Inc (KMX) Given Consensus Rating of “Buy” by Brokerages
Shares of CarMax Inc (NYSE:KMX) have earned a consensus rating of “Buy” from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $68.45.
A number of analysts have weighed in on KMX shares. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Oppenheimer Holdings, Inc. set a $72.00 target price on CarMax and gave the stock a “buy” rating in a report on Monday, June 19th. Wedbush upgraded CarMax from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $70.00 in a report on Thursday, May 18th. Deutsche Bank AG restated a “buy” rating and set a $73.00 target price (up previously from $71.00) on shares of CarMax in a report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded CarMax from a “sell” rating to a “hold” rating in a report on Thursday, April 13th.
In related news, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $66.87, for a total value of $573,945.21. Following the transaction, the chief financial officer now directly owns 70,522 shares of the company’s stock, valued at approximately $4,715,806.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edwin J. Hill sold 35,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $64.88, for a total value of $2,270,800.00. Following the completion of the transaction, the executive vice president now directly owns 39,792 shares in the company, valued at $2,581,704.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,515 shares of company stock worth $12,085,019. 1.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Korea Investment CORP increased its position in CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after buying an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in CarMax during the second quarter valued at about $112,000. First Bank & Trust increased its position in CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock valued at $123,000 after buying an additional 138 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the last quarter. Finally, Global X Management Co. LLC increased its position in CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock valued at $148,000 after buying an additional 169 shares during the last quarter.
CarMax (KMX) traded down 0.6075% during midday trading on Tuesday, reaching $65.4301. The company’s stock had a trading volume of 403,917 shares. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 18.7910 and a beta of 1.34. CarMax has a 12-month low of $47.50 and a 12-month high of $69.11. The company’s 50-day moving average is $63.73 and its 200 day moving average is $62.81.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.15. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.46 billion. CarMax had a return on equity of 21.72% and a net margin of 4.07%. CarMax’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities analysts forecast that CarMax will post $3.70 earnings per share for the current year.
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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