CarMax (KMX) Rating Increased to Outperform at Oppenheimer

CarMax (NYSE:KMX) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Thursday.

KMX has been the topic of a number of other reports. Credit Suisse Group raised shares of CarMax to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, December 25th. Deutsche Bank decreased their price objective on shares of CarMax from $84.00 to $76.00 and set a “hold” rating on the stock in a research report on Sunday, November 26th. CIBC restated a “market perform” rating on shares of CarMax in a research report on Thursday, October 5th. Wedbush restated an “outperform” rating and issued a $81.00 price objective on shares of CarMax in a research report on Friday, December 22nd. Finally, Berenberg Bank upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $77.80.

Shares of CarMax (NYSE:KMX) opened at $69.84 on Thursday. CarMax has a fifty-two week low of $54.29 and a fifty-two week high of $77.64. The stock has a market cap of $12,899.88, a PE ratio of 18.72, a PEG ratio of 1.25 and a beta of 1.48. The company has a debt-to-equity ratio of 3.83, a current ratio of 2.70 and a quick ratio of 0.51.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). CarMax had a return on equity of 21.77% and a net margin of 4.07%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. research analysts predict that CarMax will post 3.84 EPS for the current year.

In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $75.16, for a total transaction of $601,280.00. Following the transaction, the director now directly owns 463,572 shares in the company, valued at $34,842,071.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric M. Margolin sold 4,453 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $75.30, for a total transaction of $335,310.90. Following the transaction, the executive vice president now owns 22,051 shares in the company, valued at $1,660,440.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,453 shares of company stock worth $4,083,571. 1.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. grew its position in CarMax by 6.1% during the third quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock valued at $20,645,000 after acquiring an additional 15,545 shares during the last quarter. Magnetar Financial LLC bought a new position in CarMax during the third quarter valued at approximately $1,445,000. Toronto Dominion Bank grew its position in CarMax by 24.2% during the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock valued at $3,957,000 after acquiring an additional 12,234 shares during the last quarter. California Public Employees Retirement System grew its position in CarMax by 1.9% during the third quarter. California Public Employees Retirement System now owns 435,405 shares of the company’s stock valued at $33,008,000 after acquiring an additional 8,205 shares during the last quarter. Finally, Aperio Group LLC grew its position in CarMax by 6.4% during the third quarter. Aperio Group LLC now owns 79,277 shares of the company’s stock valued at $6,010,000 after acquiring an additional 4,767 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.

Analyst Recommendations for CarMax (NYSE:KMX)

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