CarMax (NYSE:KMX) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of CarMax (NYSE:KMX) in a research note published on Wednesday, January 10th. Wedbush currently has a $81.00 price target on the stock.

Several other brokerages have also recently weighed in on KMX. Oppenheimer cut CarMax from an outperform rating to a market perform rating and set a $80.00 price objective for the company. in a report on Thursday, October 5th. CIBC raised their target price on shares of CarMax from $72.00 to $80.00 and gave the company an outperform rating in a research note on Tuesday, September 19th. Zacks Investment Research downgraded shares of CarMax from a buy rating to a hold rating in a research note on Tuesday, December 12th. Susquehanna Bancshares set a $68.00 target price on shares of CarMax and gave the company a hold rating in a research note on Monday, January 1st. Finally, Royal Bank of Canada raised their target price on shares of CarMax from $77.00 to $83.00 and gave the company an outperform rating in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $77.07.

CarMax (NYSE:KMX) opened at $71.33 on Wednesday. The firm has a market capitalization of $12,900.00, a PE ratio of 19.12, a PEG ratio of 1.27 and a beta of 1.48. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83. CarMax has a 1-year low of $54.29 and a 1-year high of $77.64.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. CarMax’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. sell-side analysts expect that CarMax will post 3.84 earnings per share for the current fiscal year.

In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $75.16, for a total transaction of $601,280.00. Following the completion of the sale, the director now directly owns 463,572 shares in the company, valued at $34,842,071.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric M. Margolin sold 4,453 shares of CarMax stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $75.30, for a total transaction of $335,310.90. Following the completion of the sale, the executive vice president now owns 22,051 shares of the company’s stock, valued at $1,660,440.30. The disclosure for this sale can be found here. Insiders have sold 57,453 shares of company stock valued at $4,083,571 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of CarMax by 19.4% in the fourth quarter. Bank of Montreal Can now owns 132,461 shares of the company’s stock valued at $8,496,000 after buying an additional 21,500 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of CarMax in the fourth quarter valued at approximately $219,000. Leith Wheeler Investment Counsel Ltd. raised its position in shares of CarMax by 10.5% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 33,909 shares of the company’s stock valued at $2,175,000 after buying an additional 3,210 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of CarMax in the fourth quarter valued at approximately $1,770,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of CarMax by 6.8% in the third quarter. Parametric Portfolio Associates LLC now owns 412,554 shares of the company’s stock valued at $31,276,000 after buying an additional 26,135 shares in the last quarter.

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About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Analyst Recommendations for CarMax (NYSE:KMX)

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