CarMax Inc (NYSE:KMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $77.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.67% from the stock’s current price.

According to Zacks, “CarMax is one of the strongest operators in the used-car market, which helps it occupy a significant market share, among its peers. The company is also following an aggressive store expansion initiative to strengthen its presence and cater to a larger customer group. Moreover, it enhances shareholders value by undertaking frequent share buyback programs. Also, in the last three months, its shares have outperformed the industry it belongs to.”

Several other analysts also recently weighed in on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of CarMax in a research note on Friday, September 1st. ValuEngine lowered CarMax from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. BidaskClub upgraded CarMax from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Wedbush set a $73.00 price target on CarMax and gave the company a “buy” rating in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “market perform” rating and set a $63.00 price target (down from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $69.83.

CarMax (KMX) remained flat at $68.34 during trading on Friday. 89,652 shares of the company traded hands. The stock has a 50 day moving average price of $65.53 and a 200 day moving average price of $62.57. The stock has a market capitalization of $12.52 billion, a PE ratio of 19.63 and a beta of 1.32. CarMax has a 12-month low of $47.50 and a 12-month high of $69.52.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company posted $0.90 EPS. CarMax’s revenue was up 10.1% on a year-over-year basis. Analysts forecast that CarMax will post $3.71 EPS for the current fiscal year.

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In other news, EVP Eric M. Margolin sold 18,659 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $64.06, for a total value of $1,195,295.54. Following the sale, the executive vice president now owns 47,163 shares of the company’s stock, valued at $3,021,261.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 50,000 shares of the business’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the completion of the sale, the director now directly 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 188,515 shares of company stock valued at $12,085,019 over the last three months. 1.70% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. acquired a new position in shares of CarMax in the second quarter valued at about $211,000. Toronto Dominion Bank grew its stake in shares of CarMax by 24.2% in the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock valued at $3,957,000 after acquiring an additional 12,234 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in CarMax during the second quarter worth about $2,345,000. WINTON GROUP Ltd bought a new stake in CarMax during the second quarter worth about $2,083,000. Finally, Sterling Capital Management LLC lifted its position in CarMax by 1.8% during the second quarter. Sterling Capital Management LLC now owns 19,500 shares of the company’s stock worth $1,230,000 after purchasing an additional 353 shares during the period.

About CarMax

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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