CarMax Inc (KMX) Cut to Market Perform at UBS AG
CarMax Inc (NYSE:KMX) was downgraded by equities researchers at UBS AG from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, The Fly reports.
Several other brokerages have also recently weighed in on KMX. ValuEngine cut CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of CarMax in a report on Friday, September 1st. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Tuesday, July 11th. CIBC boosted their price objective on CarMax from $72.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, September 19th. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $70.00 price objective (up from $66.00) on shares of CarMax in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.93.
CarMax (NYSE:KMX) traded down 0.10% during trading on Thursday, reaching $76.37. 2,142,668 shares of the company’s stock traded hands. CarMax has a 12 month low of $47.50 and a 12 month high of $77.64. The firm’s 50 day moving average is $68.93 and its 200-day moving average is $63.55. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 21.93 and a beta of 1.38.
CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts expect that CarMax will post $3.81 EPS for the current fiscal year.
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In related news, COO William C. Jr. Wood sold 201,701 shares of the stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $73.56, for a total value of $14,837,125.56. Following the sale, the chief operating officer now owns 146,717 shares in the company, valued at approximately $10,792,502.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric M. Margolin sold 26,838 shares of the stock in a transaction on Friday, July 7th. The shares were sold at an average price of $64.15, for a total value of $1,721,657.70. Following the completion of the sale, the executive vice president now owns 55,342 shares in the company, valued at approximately $3,550,189.30. The disclosure for this sale can be found here. In the last three months, insiders sold 658,670 shares of company stock valued at $47,539,363. 1.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. QS Investors LLC raised its stake in CarMax by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock valued at $147,000 after acquiring an additional 22 shares during the period. YorkBridge Wealth Partners LLC raised its stake in CarMax by 1.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock valued at $149,000 after acquiring an additional 29 shares during the period. Osborne Partners Capital Management LLC raised its stake in CarMax by 0.5% in the 2nd quarter. Osborne Partners Capital Management LLC now owns 18,565 shares of the company’s stock valued at $1,171,000 after acquiring an additional 90 shares during the period. Kelman Lazarov Inc. raised its stake in CarMax by 0.8% in the 2nd quarter. Kelman Lazarov Inc. now owns 13,300 shares of the company’s stock valued at $839,000 after acquiring an additional 100 shares during the period. Finally, Pacer Advisors Inc. raised its stake in CarMax by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,523 shares of the company’s stock valued at $209,000 after acquiring an additional 110 shares during the period.
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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