CIBC Reiterates “Market Perform” Rating for CarMax Inc (KMX)
CarMax Inc (NYSE:KMX)‘s stock had its “market perform” rating reiterated by stock analysts at CIBC in a note issued to investors on Thursday.
Several other brokerages also recently commented on KMX. ValuEngine downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, July 22nd. Oppenheimer Holdings, Inc. downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, July 11th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $70.00 price objective (up from $66.00) on shares of CarMax in a research note on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a “market perform” rating and set a $63.00 price objective (down from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $77.93.
CarMax (KMX) traded down 0.10% on Thursday, hitting $76.37. The stock had a trading volume of 763,325 shares. CarMax has a 52-week low of $47.50 and a 52-week high of $77.64. The stock’s 50-day moving average is $68.93 and its 200-day moving average is $63.55. The company has a market cap of $13.99 billion, a P/E ratio of 21.93 and a beta of 1.38.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, September 22nd. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The company’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 earnings per share. Analysts expect that CarMax will post $3.81 earnings per share for the current year.
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In other CarMax news, COO William C. Jr. Wood sold 201,701 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $73.56, for a total transaction of $14,837,125.56. Following the completion of the transaction, the chief operating officer now owns 146,717 shares of the company’s stock, valued at $10,792,502.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric M. Margolin sold 26,838 shares of the firm’s stock in a transaction that occurred 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 directly owns 55,342 shares of the company’s stock, valued at approximately $3,550,189.30. The disclosure for this sale can be found here. Insiders have sold 658,670 shares of company stock valued at $47,539,363 in the last ninety days. Insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Eqis Capital Management Inc. increased its stake in shares of CarMax by 80.0% during the third quarter. Eqis Capital Management Inc. now owns 12,607 shares of the company’s stock valued at $956,000 after purchasing an additional 5,602 shares in the last quarter. Davidson Kempner Capital Management LP bought a new position in shares of CarMax during the second quarter valued at approximately $23,648,000. Intl Fcstone Inc. bought a new position in shares of CarMax during the second quarter valued at approximately $211,000. Toronto Dominion Bank increased its stake in shares of CarMax by 24.2% during the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock valued at $3,957,000 after purchasing an additional 12,234 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of CarMax during the second quarter valued at approximately $2,345,000.
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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