CarMax Inc (KMX) Rating Lowered to Market Perform at Oppenheimer Holdings, Inc.
CarMax Inc (NYSE:KMX) was downgraded by equities researchers at Oppenheimer Holdings, Inc. from an “outperform” rating to a “market perform” rating in a research note issued on Thursday.
Other equities research analysts have also issued reports about the company. Deutsche Bank AG lowered their price target on CarMax from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, July 4th. CIBC reissued a “buy” rating on shares of CarMax in a research report on Tuesday, July 4th. ValuEngine raised CarMax from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Bank of America Corporation reissued a “buy” rating and issued a $82.00 price target (up from $80.00) on shares of CarMax in a research report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $74.00 price objective (up previously from $72.00) on shares of CarMax in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $77.93.
CarMax (NYSE:KMX) opened at 76.45 on Thursday. CarMax has a 1-year low of $47.50 and a 1-year high of $77.64. The company has a 50 day moving average of $68.93 and a 200 day moving average of $63.55. The company has a market capitalization of $14.01 billion, a PE ratio of 21.96 and a beta of 1.38.
CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, September 22nd. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. CarMax’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, analysts predict that CarMax will post $3.81 earnings per share for the current fiscal year.
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In other news, SVP Diane L. Cafritz sold 5,671 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $73.95, for a total transaction of $419,370.45. Following the completion of the transaction, the senior vice president now owns 7,475 shares in the company, valued at approximately $552,776.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Tiefel sold 23,000 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $76.39, for a total value of $1,756,970.00. The disclosure for this sale can be found here. Insiders have sold a total of 658,670 shares of company stock valued at $47,539,363 in the last quarter. 1.70% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of KMX. BlackRock Inc. grew its stake in shares of CarMax by 3,199.4% during the 1st quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after acquiring an additional 10,752,554 shares during the period. Nordea Investment Management AB grew its stake in shares of CarMax by 751.0% during the 2nd quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock worth $135,465,000 after acquiring an additional 1,895,763 shares during the period. Principal Financial Group Inc. grew its stake in shares of CarMax by 8.3% during the 2nd quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after acquiring an additional 706,369 shares during the period. UBS Oconnor LLC bought a new position in shares of CarMax during the 2nd quarter worth $44,142,000. Finally, Balyasny Asset Management LLC grew its stake in shares of CarMax by 543.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 638,700 shares of the company’s stock worth $40,276,000 after acquiring an additional 539,451 shares during the period.
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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