CarMax (NYSE:KMX) Trading 5.1% Higher – Still a Buy?

Shares of CarMax, Inc. (NYSE:KMX) traded up 5.1% during trading on Wednesday . The stock traded as high as $46.48 and last traded at $46.15. 310,065 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 3,324,352 shares. The stock had previously closed at $43.93.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore set a $45.00 price target on shares of CarMax in a research note on Friday, April 10th. Robert W. Baird upped their price target on shares of CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Wall Street Zen downgraded shares of CarMax from a “hold” rating to a “sell” rating in a research note on Sunday, May 31st. JPMorgan Chase & Co. upped their price target on shares of CarMax from $28.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $41.00 price target on shares of CarMax in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $41.27.

CarMax Price Performance

The company’s 50-day moving average is $40.89 and its two-hundred day moving average is $41.56. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.20 and a quick ratio of 0.49. The firm has a market cap of $6.66 billion, a P/E ratio of 29.35, a PEG ratio of 1.74 and a beta of 1.21.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter in the prior year, the business posted $0.58 earnings per share. CarMax’s revenue was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that CarMax, Inc. will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On CarMax

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after acquiring an additional 173 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after acquiring an additional 161 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of CarMax by 12.5% in the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after acquiring an additional 585 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of CarMax by 61.7% in the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after acquiring an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of CarMax in the first quarter worth about $727,000.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.