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.