CarMax (KMX) Upgraded by Northcoast Research to Buy
CarMax (NYSE:KMX) was upgraded by Northcoast Research from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat.com reports.
Other equities research analysts have also recently issued reports about the company. Oppenheimer reaffirmed a “buy” rating on shares of CarMax in a research note on Friday, September 1st. Zacks Investment Research raised CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a research note on Wednesday, August 16th. Deutsche Bank decreased their price objective on CarMax from $84.00 to $76.00 and set a “hold” rating for the company in a research note on Sunday, November 26th. CIBC reaffirmed a “market perform” rating on shares of CarMax in a research note on Thursday, October 5th. Finally, Royal Bank of Canada lifted their price objective on CarMax from $77.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $77.00.
CarMax (NYSE:KMX) traded up $0.30 during mid-day trading on Thursday, hitting $67.77. The stock had a trading volume of 987,635 shares, compared to its average volume of 2,211,506. The company has a market capitalization of $12,190.58, a P/E ratio of 18.37, a P/E/G ratio of 1.13 and a beta of 1.48. CarMax has a 12 month low of $54.29 and a 12 month high of $77.64. The company has a current ratio of 2.33, a quick ratio of 0.48 and a debt-to-equity ratio of 3.82.
CarMax (NYSE:KMX) last released its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. analysts predict that CarMax will post 3.84 EPS for the current year.
In other news, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $68.72, for a total value of $549,760.00. Following the sale, the director now directly owns 447,572 shares in the company, valued at $30,757,147.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William R. Tiefel sold 23,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were 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. Over the last three months, insiders sold 625,955 shares of company stock valued at $46,214,378. Insiders own 1.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of CarMax by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock valued at $1,146,758,000 after purchasing an additional 380,038 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of CarMax by 0.5% in the second quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock valued at $702,643,000 after purchasing an additional 53,840 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CarMax by 1.5% in the third quarter. Principal Financial Group Inc. now owns 9,319,193 shares of the company’s stock valued at $706,487,000 after purchasing an additional 142,175 shares in the last quarter. Broad Run Investment Management LLC lifted its holdings in shares of CarMax by 0.9% in the second quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock valued at $212,969,000 after purchasing an additional 29,846 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of CarMax by 751.0% in the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock valued at $135,465,000 after purchasing an additional 1,895,763 shares in the last quarter.
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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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