CarMax, Inc (NYSE:KMX) Given Average Recommendation of “Buy” by Brokerages

Shares of CarMax, Inc (NYSE:KMX) have received a consensus rating of “Buy” from the sixteen analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $97.75.

A number of research analysts have recently weighed in on KMX shares. Stephens upped their price objective on shares of CarMax from $82.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, June 22nd. TheStreet cut shares of CarMax from a “b-” rating to a “c+” rating in a research report on Friday, March 13th. Wedbush upped their price objective on shares of CarMax from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. began coverage on shares of CarMax in a research report on Monday, June 1st. They issued an “overweight” rating and a $105.00 price objective for the company. Finally, Oppenheimer began coverage on shares of CarMax in a research report on Friday, June 19th. They issued a “buy” rating and a $87.00 price objective for the company.

NYSE:KMX traded up $0.57 during trading hours on Tuesday, hitting $89.55. 987,270 shares of the stock were exchanged, compared to its average volume of 1,916,812. The company’s 50 day moving average is $87.44 and its two-hundred day moving average is $82.96. CarMax has a twelve month low of $37.59 and a twelve month high of $103.18. The company has a quick ratio of 1.20, a current ratio of 2.85 and a debt-to-equity ratio of 4.15. The company has a market capitalization of $14.08 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.32 and a beta of 1.71.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 19th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. CarMax had a return on equity of 18.00% and a net margin of 3.45%. The business’s revenue for the quarter was down 48.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. On average, equities research analysts expect that CarMax will post 3.01 EPS for the current year.

In other news, EVP Eric M. Margolin sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $94.32, for a total value of $113,184.00. Following the completion of the transaction, the executive vice president now owns 25,640 shares in the company, valued at approximately $2,418,364.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $92.15, for a total value of $3,455,625.00. Following the completion of the transaction, the chief financial officer now owns 20,989 shares of the company’s stock, valued at approximately $1,934,136.35. The disclosure for this sale can be found here. Insiders sold a total of 77,785 shares of company stock valued at $7,182,608 in the last 90 days. 1.99% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of KMX. First Trust Advisors LP lifted its stake in CarMax by 0.3% in the 1st quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock valued at $4,570,000 after purchasing an additional 167 shares during the last quarter. Victory Capital Management Inc. lifted its position in CarMax by 0.5% during the fourth quarter. Victory Capital Management Inc. now owns 86,165 shares of the company’s stock worth $7,554,000 after acquiring an additional 471 shares during the last quarter. Comerica Bank lifted its position in CarMax by 25.4% during the fourth quarter. Comerica Bank now owns 48,257 shares of the company’s stock worth $4,794,000 after acquiring an additional 9,784 shares during the last quarter. FMR LLC lifted its position in CarMax by 0.6% during the fourth quarter. FMR LLC now owns 148,798 shares of the company’s stock worth $13,045,000 after acquiring an additional 840 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in CarMax by 49.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,860 shares of the company’s stock worth $2,092,000 after acquiring an additional 7,893 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.

About CarMax

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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