CarMax (NYSE:KMX) Raised to Equal Weight at Barclays

CarMax (NYSE:KMX) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $61.00 target price on the stock, up from their previous target price of $37.00. Barclays‘s price target indicates a potential upside of 6.15% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Mizuho increased their target price on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a report on Thursday, June 18th. UBS Group increased their price objective on CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, June 23rd. Finally, Bank of America raised their price objective on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $49.33.

CarMax Trading Down 0.2%

Shares of KMX stock opened at $57.47 on Tuesday. The stock has a 50-day simple moving average of $48.86 and a 200 day simple moving average of $44.95. CarMax has a fifty-two week low of $30.26 and a fifty-two week high of $63.74. The stock has a market capitalization of $8.16 billion, a P/E ratio of 37.56, a P/E/G ratio of 1.86 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the business earned $1.38 earnings per share. CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts expect that CarMax will post 2.7 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, CEO Keith Barr purchased 9,400 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the transaction, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sona Chawla acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average cost of $53.39 per share, with a total value of $106,780.00. Following the purchase, the director directly owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 13,900 shares of company stock worth $735,574. 1.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after buying an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after acquiring an additional 173 shares during the period. Blue Trust Inc. lifted its holdings in shares of CarMax by 20.0% during the 4th quarter. Blue Trust Inc. now owns 1,424 shares of the company’s stock worth $55,000 after acquiring an additional 237 shares during the period. Huntington National Bank boosted its position in shares of CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares in the last quarter. Finally, Ossiam increased its stake in CarMax by 19.5% in the second quarter. Ossiam now owns 1,713 shares of the company’s stock valued at $115,000 after acquiring an additional 280 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.