CarMax (NYSE:KMX) Receives Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of CarMax (NYSE:KMX) in a report issued on Wednesday, Benzinga reports. Wedbush currently has a $95.00 price objective on the stock.

A number of other research analysts have also commented on the stock. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Morgan Stanley reiterated an “overweight” rating and set a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Evercore ISI reduced their price target on CarMax from $79.00 to $76.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of CarMax in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.45.

CarMax Stock Performance

KMX opened at $74.81 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.46 and a beta of 1.68. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The business has a 50 day moving average of $78.05 and a 200-day moving average of $75.39.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the business earned $0.75 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts expect that CarMax will post 2.97 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the sale, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co lifted its stake in CarMax by 29.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after purchasing an additional 37,660 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of CarMax by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after buying an additional 17,557 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of CarMax by 38.2% during the first quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock worth $4,861,000 after buying an additional 15,426 shares in the last quarter. Swedbank AB bought a new position in shares of CarMax in the 1st quarter valued at $1,406,000. Finally, SG Americas Securities LLC lifted its stake in shares of CarMax by 7.9% in the 1st quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after acquiring an additional 1,688 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.