CarMax (NYSE:KMX) Receives Sell (D) Rating from Weiss Ratings

Weiss Ratings reaffirmed their sell (d) rating on shares of CarMax (NYSE:KMX) in a research report released on Tuesday,Weiss Ratings reports.

KMX has been the subject of a number of other research reports. Royal Bank Of Canada cut their target price on shares of CarMax from $81.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their target price on shares of CarMax from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, September 26th. Benchmark cut their price objective on shares of CarMax from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Evercore ISI reaffirmed an “in-line” rating and set a $52.00 price objective (down previously from $80.00) on shares of CarMax in a research report on Friday, September 26th. Finally, BNP Paribas Exane cut their price objective on shares of CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $54.42.

CarMax Stock Up 0.7%

CarMax stock opened at $44.00 on Tuesday. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.83 and a beta of 1.27. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06. CarMax has a fifty-two week low of $42.75 and a fifty-two week high of $91.25. The firm has a fifty day moving average price of $55.19 and a two-hundred day moving average price of $62.45.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. As a group, analysts forecast that CarMax will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. True North Advisors LLC raised its position in CarMax by 66.6% in the third quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock worth $5,552,000 after purchasing an additional 49,450 shares in the last quarter. Kirr Marbach & Co. LLC IN acquired a new position in CarMax in the third quarter worth about $6,177,000. Farther Finance Advisors LLC grew its stake in CarMax by 22.7% during the third quarter. Farther Finance Advisors LLC now owns 3,607 shares of the company’s stock worth $162,000 after buying an additional 668 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in CarMax by 18.8% during the third quarter. Exchange Traded Concepts LLC now owns 10,972 shares of the company’s stock worth $492,000 after buying an additional 1,734 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in CarMax by 23.2% during the third quarter. Wedge Capital Management L L P NC now owns 126,401 shares of the company’s stock worth $5,672,000 after buying an additional 23,769 shares during the last quarter.

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.