CarMax (NYSE:KMX) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of CarMax (NYSE:KMX) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird boosted their target price on shares of CarMax from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, September 30th. BNP Paribas Exane reaffirmed a “strong sell” rating and set a $48.00 price target (up from $33.00) on shares of CarMax in a research report on Wednesday, September 30th. Morgan Stanley increased their price target on shares of CarMax from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 30th. JPMorgan Chase & Co. lifted their price target on shares of CarMax from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, September 18th. Finally, Royal Bank Of Canada lifted their price target on shares of CarMax from $45.00 to $56.00 and gave the company a “sector perform” rating in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $57.85.

CarMax Stock Up 1.4%

Shares of NYSE:KMX opened at $56.35 on Friday. The company has a current ratio of 2.33, a quick ratio of 0.57 and a debt-to-equity ratio of 2.66. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.49 and a beta of 1.23. The stock’s 50-day moving average price is $56.98 and its two-hundred day moving average price is $49.52. CarMax has a 12-month low of $30.26 and a 12-month high of $65.28.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Tuesday, September 29th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.43. The company had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.09 billion. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts forecast that CarMax will post 3.15 EPS for the current year.

Institutional Trading of CarMax

Large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its holdings in CarMax by 28.1% during the 1st quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock worth $6,491,000 after buying an additional 34,211 shares during the last quarter. State Street Corp grew its position in shares of CarMax by 5.6% in the 2nd quarter. State Street Corp now owns 5,156,276 shares of the company’s stock worth $272,715,000 after acquiring an additional 271,216 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of CarMax by 61.7% in the 1st quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock valued at $70,160,000 after acquiring an additional 643,834 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of CarMax by 181.0% in the 2nd quarter. WINTON GROUP Ltd now owns 38,780 shares of the company’s stock valued at $2,051,000 after acquiring an additional 24,977 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of CarMax in the 1st quarter valued at approximately $1,688,000.

CarMax Company Profile

CarMax, Inc is a specialty retailer of used vehicles and operates one of the largest used-car sales networks in the United States. The company sells a broad selection of pre-owned cars, trucks and SUVs through its retail stores and online platform, offering customers tools for vehicle search, appraisal, financing and purchase.

CarMax also operates a vehicle appraisal and acquisition business, buying vehicles from consumers and other sources for resale through its retail or wholesale channels.