CarMax (KMX) Upgraded to “Outperform” at Wood & Company

CarMax (NYSE:KMX) was upgraded by equities research analysts at Wood & Company from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a $88.00 price objective on the stock, up from their prior price objective of $80.00. Wood & Company’s target price would indicate a potential upside of 24.68% from the company’s previous close.

A number of other brokerages have also recently commented on KMX. CIBC restated a “market perform” rating on shares of CarMax in a report on Thursday, October 5th. Oppenheimer cut CarMax from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a report on Thursday, October 5th. UBS Group cut CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, October 5th. Berenberg Bank began coverage on CarMax in a report on Wednesday, October 4th. They set a “hold” rating and a $83.00 target price for the company. Finally, Credit Suisse Group raised their target price on CarMax from $75.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $78.33.

Shares of CarMax (NYSE:KMX) traded up $0.04 during trading hours on Thursday, hitting $70.58. The company had a trading volume of 1,199,777 shares, compared to its average volume of 1,984,928. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83. The firm has a market cap of $12,764.25, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.24 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 issued its quarterly earnings data on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). CarMax had a return on equity of 21.77% and a net margin of 4.07%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. sell-side analysts expect that CarMax will post 3.84 EPS for the current year.

In other news, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $75.16, for a total value of $601,280.00. Following the completion of the transaction, the director now owns 463,572 shares in the company, valued at approximately $34,842,071.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Darren C. Newberry sold 6,584 shares of CarMax stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $72.61, for a total value of $478,064.24. The disclosure for this sale can be found here. Insiders sold a total of 72,037 shares of company stock valued at $5,140,835 in the last quarter. Company insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tredje AP fonden purchased a new stake in CarMax during the third quarter worth approximately $144,000. YorkBridge Wealth Partners LLC lifted its stake in CarMax by 1.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock worth $149,000 after purchasing an additional 29 shares during the last quarter. QS Investors LLC lifted its stake in CarMax by 1.0% during the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after purchasing an additional 22 shares during the last quarter. Commerce Bank purchased a new stake in CarMax during the third quarter worth approximately $203,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in CarMax during the third quarter worth approximately $206,000.

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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.

The Fly

Analyst Recommendations for CarMax (NYSE:KMX)

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