CarMax Inc. (NYSE:KMX) – Investment analysts at Oppenheimer Holdings boosted their FY2018 earnings per share estimates for CarMax in a research note issued on Wednesday. Oppenheimer Holdings analyst B. Nagel now anticipates that the brokerage will earn $3.70 per share for the year, up from their previous estimate of $3.65. Oppenheimer Holdings has a “Buy” rating on the stock.
A number of other equities research analysts have also recently commented on KMX. Wedbush restated a “hold” rating and issued a $44.00 price target on shares of CarMax in a report on Thursday, June 16th. Buckingham Research reiterated a “buy” rating and set a $60.00 price objective on shares of CarMax in a report on Tuesday, June 21st. Robert W. Baird reiterated a “neutral” rating and set a $58.00 price objective (down from $60.00) on shares of CarMax in a report on Wednesday, June 22nd. Susquehanna began coverage on shares of CarMax in a report on Thursday, August 25th. They set a “positive” rating and a $70.00 price objective for the company. Finally, Vetr cut shares of CarMax from a “buy” rating to a “hold” rating and set a $57.52 price objective for the company. in a report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.01.
Shares of CarMax (NYSE:KMX) traded down 0.47% on Thursday, reaching $52.53. 960,554 shares of the company were exchanged. The company’s 50 day moving average is $56.53 and its 200 day moving average is $53.74. CarMax has a 12-month low of $41.25 and a 12-month high of $60.81. The firm has a market capitalization of $10.04 billion, a PE ratio of 17.08 and a beta of 1.42.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.88. CarMax had a net margin of 3.95% and a return on equity of 20.92%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the business earned $0.79 EPS. CarMax’s quarterly revenue was up 2.9% on a year-over-year basis.
In other news, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $55.45, for a total value of $3,204,732.75. Following the sale, the chief financial officer now owns 72,135 shares of the company’s stock, valued at $3,999,885.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Edwin J. Hill sold 51,875 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $57.59, for a total transaction of $2,987,481.25. Following the completion of the sale, the executive vice president now directly owns 36,943 shares in the company, valued at approximately $2,127,547.37. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC acquired a new stake in CarMax during the first quarter valued at about $39,950,000. Abrams Bison Investments LLC raised its stake in CarMax by 31.6% in the first quarter. Abrams Bison Investments LLC now owns 2,858,787 shares of the company’s stock valued at $146,084,000 after buying an additional 686,131 shares during the period. Wellington Management Group LLP raised its stake in CarMax by 6.1% in the first quarter. Wellington Management Group LLP now owns 3,625,082 shares of the company’s stock valued at $185,242,000 after buying an additional 206,898 shares during the period. Legal & General Group Plc raised its stake in CarMax by 0.3% in the first quarter. Legal & General Group Plc now owns 910,718 shares of the company’s stock valued at $46,534,000 after buying an additional 2,405 shares during the period. Finally, Allen Investment Management LLC raised its stake in CarMax by 5.3% in the first quarter. Allen Investment Management LLC now owns 21,585 shares of the company’s stock valued at $1,103,000 after buying an additional 1,093 shares during the period.
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.
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