CarMax (NYSE:KMX) Upgraded by Wall Street Zen to “Hold” Rating

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

Several other equities analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Wednesday, April 8th. Bank of America began coverage on CarMax in a report on Wednesday, April 15th. They set an “underperform” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. increased their price target on CarMax from $35.00 to $37.00 and gave the company an “underweight” rating in a report on Thursday. Evercore set a $45.00 price target on CarMax in a report on Friday, April 10th. Finally, Barclays increased their price target on CarMax from $26.00 to $31.00 and gave the company an “underweight” rating in a report on Friday. One research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, CarMax currently has a consensus rating of “Reduce” and an average target price of $41.73.

CarMax Trading Down 0.6%

Shares of KMX stock opened at $51.27 on Friday. CarMax has a 12 month low of $30.26 and a 12 month high of $71.99. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. The business’s 50 day moving average is $41.83 and its two-hundred day moving average is $42.15. The company has a market cap of $7.27 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21.

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

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently modified their holdings of KMX. SRS Investment Management LLC boosted its stake in CarMax by 1,717.5% during the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after buying an additional 5,327,603 shares in the last quarter. AQR Capital Management LLC boosted its stake in CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after buying an additional 4,780,903 shares in the last quarter. Norges Bank acquired a new stake in CarMax during the fourth quarter worth $159,232,000. Arrowstreet Capital Limited Partnership boosted its stake in CarMax by 73.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after buying an additional 1,494,205 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its stake in CarMax by 135.2% during the third quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company’s stock worth $104,569,000 after buying an additional 1,338,134 shares in the last quarter.

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.