CarMax (KMX) Given “Outperform” Rating at Wedbush

CarMax (NYSE:KMX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a report issued on Wednesday. They presently have a $81.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 16.05% from the stock’s current price.

Several other equities analysts have also recently weighed in on KMX. Oppenheimer 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. 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. Citigroup raised their target price on shares of CarMax to $84.00 and gave the company a “buy” rating in a research note on Monday, September 25th. Goldman Sachs Group cut shares of CarMax from a “buy” rating to a “neutral” rating and raised their target price for the company from $74.00 to $79.00 in a research note on Monday, September 25th. 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 equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.27.

CarMax (NYSE:KMX) traded down $0.25 during trading hours on Wednesday, hitting $69.80. 2,361,900 shares of the company traded hands, compared to its average volume of 3,463,933. CarMax has a twelve month low of $54.29 and a twelve month high of $77.64. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $12,620.00, a PE ratio of 18.71, a PEG ratio of 1.19 and a beta of 1.48.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). CarMax had a net margin of 4.07% and a return on equity of 21.77%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business posted $0.72 earnings per share. CarMax’s quarterly revenue was up 11.0% compared to the same quarter last year. research analysts predict that CarMax will post 3.86 EPS for the current year.

In other news, EVP Edwin J. Hill sold 25,000 shares of CarMax stock in a transaction on Friday, October 13th. The stock was sold at an average price of $75.75, for a total transaction of $1,893,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction on Monday, October 16th. The stock was sold at an average price of $75.09, for a total value of $600,720.00. The disclosure for this sale can be found here. Insiders have sold a total of 90,453 shares of company stock valued at $6,578,041 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. lifted its holdings in shares of CarMax by 6.1% during the third quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock worth $20,645,000 after buying an additional 15,545 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of CarMax during the third quarter worth $1,445,000. Victory Capital Management Inc. lifted its holdings in shares of CarMax by 16.1% during the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock worth $1,364,000 after buying an additional 3,002 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of CarMax by 24.2% during the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock worth $3,957,000 after buying an additional 12,234 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of CarMax by 1.9% during the third quarter. California Public Employees Retirement System now owns 435,405 shares of the company’s stock worth $33,008,000 after buying an additional 8,205 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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