Wood & Company Upgrades CarMax (KMX) to Outperform

Wood & Company upgraded shares of CarMax (NYSE:KMX) from a market perform rating to an outperform rating in a research report report published on Thursday morning, The Fly reports. Wood & Company currently has $88.00 target price on the stock, up from their previous target price of $80.00.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group raised CarMax to a buy rating and set a $83.00 price objective on the stock in a report on Monday, December 25th. Deutsche Bank downgraded CarMax from a buy rating to a hold rating and set a $76.00 price objective on the stock. in a report on Friday, November 17th. Northcoast Research raised CarMax from a neutral rating to a buy rating in a report on Thursday, December 14th. Zacks Investment Research downgraded CarMax from a buy rating to a hold rating in a report on Tuesday, October 31st. Finally, Oppenheimer reissued a hold rating and set a $80.00 price objective on shares of CarMax in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $78.33.

Shares of CarMax (NYSE KMX) traded up $0.04 during mid-day trading on Thursday, hitting $70.58. The company’s stock had a trading volume of 1,202,842 shares, compared to its average volume of 1,984,928. The firm has a market cap of $12,757.01, a P/E ratio of 18.92, a PEG ratio of 1.24 and a beta of 1.48. CarMax has a 52-week low of $54.29 and a 52-week high of $77.64. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.51 and a current ratio of 2.70.

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

In other news, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $64.04, for a total value of $512,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric M. Margolin sold 4,453 shares of CarMax stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $75.30, for a total value of $335,310.90. Following the completion of the transaction, the executive vice president now directly owns 22,051 shares of the company’s stock, valued at $1,660,440.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,037 shares of company stock valued at $5,140,835. 1.70% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. raised its position in shares of CarMax by 6.1% in the 3rd quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock worth $20,645,000 after acquiring an additional 15,545 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of CarMax in the 3rd quarter worth about $1,445,000. Toronto Dominion Bank raised its position in shares of CarMax by 24.2% in the 2nd quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock worth $3,957,000 after acquiring an additional 12,234 shares in the last quarter. California Public Employees Retirement System raised its position in shares of CarMax by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 435,405 shares of the company’s stock worth $33,008,000 after acquiring an additional 8,205 shares in the last quarter. Finally, Aperio Group LLC raised its position in shares of CarMax by 6.4% in the 3rd quarter. Aperio Group LLC now owns 79,277 shares of the company’s stock worth $6,010,000 after acquiring an additional 4,767 shares in the last quarter.

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About CarMax

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.

The Fly

Analyst Recommendations for CarMax (NYSE:KMX)

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