CarMax (NYSE:KMX) was upgraded by equities research analysts at Credit Suisse Group to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $83.00 price objective on the stock. Credit Suisse Group’s price objective points to a potential upside of 26.62% from the company’s current price.
Other research analysts have also issued research reports about the stock. Citigroup lifted their price objective on shares of CarMax to $84.00 and gave the stock a “buy” rating in a research note on Monday, September 25th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, September 26th. Deutsche Bank reissued a “buy” rating and set a $84.00 price objective on shares of CarMax in a research note on Monday, September 25th. Oppenheimer reissued a “buy” rating on shares of CarMax in a research note on Friday, September 1st. Finally, Northcoast Research raised shares of CarMax from a “neutral” rating to a “buy” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $77.57.
CarMax (KMX) traded up $0.32 during trading on Monday, reaching $65.55. 1,882,485 shares of the company traded hands, compared to its average volume of 2,247,463. CarMax has a twelve month low of $54.29 and a twelve month high of $77.64. The company has a market cap of $11,838.55, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.09 and a beta of 1.48. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83.
In other news, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $67.50, for a total value of $540,000.00. Following the sale, the director now directly owns 439,572 shares in the company, valued at $29,671,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Diane L. Cafritz sold 5,671 shares of CarMax stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $73.95, for a total transaction of $419,370.45. Following the completion of the sale, the senior vice president now owns 7,475 shares in the company, valued at $552,776.25. The disclosure for this sale can be found here. Insiders have sold a total of 189,569 shares of company stock worth $14,123,448 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its holdings in CarMax by 6.8% during the third quarter. Parametric Portfolio Associates LLC now owns 412,554 shares of the company’s stock worth $31,276,000 after buying an additional 26,135 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in CarMax by 27.8% during the third quarter. Public Employees Retirement System of Ohio now owns 102,068 shares of the company’s stock worth $7,738,000 after buying an additional 22,198 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in CarMax during the third quarter worth $448,000. Yellowstone Partners LLC acquired a new position in CarMax during the third quarter worth $425,000. Finally, California Public Employees Retirement System increased its holdings in CarMax by 1.9% during the third quarter. California Public Employees Retirement System now owns 435,405 shares of the company’s stock worth $33,008,000 after buying an additional 8,205 shares during the last quarter.
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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.
