CarMax, Inc. (NYSE:KMX) Given Average Rating of “Hold” by Analysts

Shares of CarMax, Inc. (NYSE:KMX) have earned an average rating of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $76.25.

KMX has been the topic of a number of research reports. Evercore ISI upped their price objective on CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a report on Tuesday, July 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Wedbush boosted their price objective on shares of CarMax from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada raised their target price on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th.

CarMax Stock Performance

Shares of KMX stock opened at $77.46 on Thursday. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.66 and a beta of 1.69. The company has a 50-day simple moving average of $75.70 and a 200 day simple moving average of $75.21. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, sell-side analysts predict that CarMax will post 2.99 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $72,097.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the sale, the senior vice president now directly owns 995 shares in the company, valued at approximately $72,097.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,243 shares of company stock valued at $14,893,042. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CarMax

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in CarMax in the fourth quarter valued at $288,278,000. Morningstar Investment Services LLC lifted its stake in shares of CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after purchasing an additional 1,326,840 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of CarMax by 1,327.3% in 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 during the period. Epoch Investment Partners Inc. boosted 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 in the last quarter. Finally, Marshall Wace LLP grew its stake in CarMax by 87.6% during the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after purchasing an additional 541,967 shares during the period.

About CarMax

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.