CarMax (NYSE:KMX) Rating Reiterated by Wedbush

Wedbush reissued their outperform rating on shares of CarMax (NYSE:KMX) in a research report report published on Wednesday morning, Benzinga reports. Wedbush currently has a $95.00 price target on the stock.

Other research analysts have also issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of CarMax in a report on Wednesday. Royal Bank of Canada raised their price objective on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Mizuho lowered their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Evercore ISI reduced their price target on shares of CarMax from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. Finally, BNP Paribas raised shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.73.

CarMax Trading Down 0.6 %

Shares of KMX opened at $74.70 on Wednesday. CarMax has a one year low of $59.66 and a one year high of $88.22. The stock has a 50-day moving average price of $78.02 and a 200 day moving average price of $75.25. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The company has a market capitalization of $11.66 billion, a P/E ratio of 29.18, a P/E/G ratio of 1.46 and a beta of 1.68.

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

Insider Activity at CarMax

In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares in the company, valued at approximately $1,249,032.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, 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 transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at $1,249,032.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently made changes to their positions in KMX. Vulcan Value Partners LLC boosted its holdings in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after acquiring an additional 1,369,986 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after purchasing an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after purchasing an additional 577,685 shares during the period. Marshall Wace LLP raised its stake in shares of CarMax by 87.6% in the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after buying an additional 541,967 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of CarMax by 212.8% in the second quarter. AQR Capital Management LLC now owns 488,836 shares of the company’s stock valued at $35,851,000 after buying an additional 332,574 shares during the period.

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.