CarMax (NYSE:KMX) Stock Rating Upgraded by Wall Street Zen

CarMax (NYSE:KMX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts have also recently issued reports on KMX. Benchmark restated a “hold” rating on shares of CarMax in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. Truist Financial raised their price target on shares of CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Evercore ISI restated a “reduce” rating and set a $36.00 price objective on shares of CarMax in a research note on Friday, December 19th. Finally, Stephens cut their price objective on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, CarMax has an average rating of “Reduce” and a consensus price target of $39.64.

CarMax Trading Down 2.2%

NYSE:KMX opened at $44.51 on Friday. The company has a market capitalization of $6.31 billion, a P/E ratio of 14.69, a PEG ratio of 1.09 and a beta of 1.29. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax has a 12 month low of $30.26 and a 12 month high of $89.47. The firm has a fifty day simple moving average of $41.81 and a 200-day simple moving average of $47.92.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business posted $0.81 EPS. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities research analysts anticipate that CarMax will post 3.23 earnings per share for the current year.

Institutional Trading of CarMax

A number of hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its position in shares of CarMax by 19.7% in the fourth quarter. New York State Teachers Retirement System now owns 165,243 shares of the company’s stock worth $6,385,000 after acquiring an additional 27,146 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of CarMax by 23.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 64,499 shares of the company’s stock valued at $2,492,000 after acquiring an additional 12,114 shares during the period. Sage Rhino Capital LLC purchased a new position in shares of CarMax in the 4th quarter valued at about $322,000. M&T Bank Corp increased its stake in shares of CarMax by 216.0% in the 4th quarter. M&T Bank Corp now owns 20,343 shares of the company’s stock valued at $786,000 after purchasing an additional 13,905 shares in the last quarter. Finally, Comerica Bank raised its holdings in CarMax by 91.8% in the 4th quarter. Comerica Bank now owns 42,629 shares of the company’s stock worth $1,647,000 after purchasing an additional 20,407 shares during the period.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.