CarMax (NYSE:KMX) Upgraded at Wall Street Zen

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

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $41.00 target price on shares of CarMax in a research report on Wednesday, April 15th. JPMorgan Chase & Co. increased their target price on shares of CarMax from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Bank of America began coverage on shares of CarMax in a report on Wednesday, April 15th. They set an “underperform” rating and a $40.00 price target for the company. Finally, Argus raised shares of CarMax to a “hold” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $41.21.

CarMax Stock Performance

Shares of NYSE:KMX opened at $40.31 on Friday. The company’s 50 day moving average price is $40.59 and its two-hundred day moving average price is $41.02. CarMax has a 12-month low of $30.26 and a 12-month high of $71.99. The firm has a market cap of $5.72 billion, a PE ratio of 25.19, a PEG ratio of 1.47 and a beta of 1.19. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last announced its earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The firm had revenue of $5.95 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts predict that CarMax will post 2.3 earnings per share for the current year.

Institutional Trading of CarMax

Institutional investors and hedge funds have recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new stake in shares of CarMax during the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax during the 2nd quarter worth approximately $30,000. Huntington National Bank lifted its holdings in shares of CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of CarMax during the 3rd quarter worth approximately $31,000. Finally, Advisory Services Network LLC bought a new stake in shares of CarMax during the 3rd quarter worth approximately $32,000.

About CarMax

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.