CarMax (KMX) Raised to Outperform at Oppenheimer
CarMax (NYSE:KMX) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Thursday.
Other analysts have also issued reports about the stock. Wedbush reissued an “outperform” rating and issued a $81.00 price objective on shares of CarMax in a research report on Wednesday, January 10th. UBS Group raised shares of CarMax from a “market perform” rating to an “outperform” rating in a research report on Thursday. Wood & Company raised shares of CarMax from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $88.00 in a research report on Thursday. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, Credit Suisse Group increased their price objective on shares of CarMax from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $77.80.
Shares of CarMax (NYSE KMX) opened at $69.84 on Thursday. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83. The stock has a market cap of $12,899.88, a PE ratio of 18.72, a PEG ratio of 1.25 and a beta of 1.48. CarMax has a 1 year low of $54.29 and a 1 year high of $77.64.
CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). CarMax had a net margin of 4.07% and a return on equity of 21.77%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. sell-side analysts anticipate that CarMax will post 3.84 earnings per share for the current fiscal year.
In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.04, for a total value of $512,320.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Tiefel sold 13,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $75.30, for a total transaction of $978,900.00. Following the completion of the transaction, the director now owns 151,659 shares in the company, valued at $11,419,922.70. The disclosure for this sale can be found here. Insiders sold a total of 57,453 shares of company stock worth $4,083,571 over the last 90 days. Insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of KMX. Nicholas Co. Inc. WI boosted its stake in shares of CarMax by 2.3% during the fourth quarter. Nicholas Co. Inc. WI now owns 204,565 shares of the company’s stock valued at $11,040,000 after purchasing an additional 4,520 shares in the last quarter. First Bank & Trust boosted its stake in shares of CarMax by 7.1% during the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock valued at $123,000 after purchasing an additional 138 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of CarMax by 3.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after purchasing an additional 24,390 shares in the last quarter. Sarasin & Partners boosted its stake in shares of CarMax by 2.3% during the fourth quarter. Sarasin & Partners now owns 3,618,079 shares of the company’s stock valued at $195,268,000 after purchasing an additional 82,512 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of CarMax by 3.5% during the fourth quarter. ProShare Advisors LLC now owns 29,538 shares of the company’s stock valued at $1,594,000 after purchasing an additional 1,007 shares in the last quarter.
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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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