CarMax (NYSE:KMX) Receives New Coverage from Analysts at Argus

Argus initiated coverage on shares of CarMax (NYSE:KMX) in a research note issued to investors on Friday, June 28th, Stock Target Advisor reports. The firm issued a buy rating and a $100.00 price target on the stock.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Grana y Montero SAA from a sell rating to a hold rating in a report on Monday, June 10th. Royal Bank of Canada decreased their price target on shares of from GBX 845 ($11.04) to GBX 800 ($10.45) and set an outperform rating on the stock in a report on Wednesday, June 19th. Robert W. Baird lifted their price target on shares of CarMax from $80.00 to $99.00 and gave the company an outperform rating in a report on Monday, June 24th. Northcoast Research lowered shares of CarMax from a buy rating to a neutral rating and set a $86.50 price target on the stock. in a report on Friday, June 28th. Finally, Bank of America lifted their price target on shares of CarMax from $95.00 to $112.00 in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $93.81.

Shares of NYSE KMX traded down $1.79 during mid-day trading on Friday, reaching $84.84. 1,931,774 shares of the company were exchanged, compared to its average volume of 2,184,457. The firm’s 50-day moving average is $84.59. The company has a debt-to-equity ratio of 4.20, a current ratio of 2.21 and a quick ratio of 0.49. The company has a market capitalization of $14.34 billion, a PE ratio of 17.71, a P/E/G ratio of 1.31 and a beta of 1.21. CarMax has a twelve month low of $55.24 and a twelve month high of $89.40.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.10. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The business’s revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that CarMax will post 5.27 earnings per share for the current fiscal year.

In other news, COO Edwin J. Hill sold 4,792 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $87.49, for a total value of $419,252.08. Following the transaction, the chief operating officer now owns 3,778 shares in the company, valued at approximately $330,537.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas W. Reedy, Jr. sold 77,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $83.20, for a total transaction of $6,406,400.00. Following the completion of the transaction, the chief financial officer now owns 138,520 shares in the company, valued at approximately $11,524,864. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,154 shares of company stock worth $28,601,492. 2.09% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in CarMax during the 4th quarter valued at $83,206,000. HL Financial Services LLC increased its stake in CarMax by 20,731.6% during the 1st quarter. HL Financial Services LLC now owns 1,118,864 shares of the company’s stock valued at $78,097,000 after purchasing an additional 1,113,493 shares in the last quarter. Makaira Partners LLC bought a new stake in CarMax during the 4th quarter valued at $46,107,000. WINTON GROUP Ltd bought a new stake in CarMax during the 2nd quarter valued at $40,215,000. Finally, Squarepoint Ops LLC bought a new stake in CarMax during the 4th quarter valued at $23,619,000.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Analyst Recommendations for CarMax (NYSE:KMX)

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