Oppenheimer Holdings Inc. Reiterates “Outperform” Rating for CarMax Inc. (KMX)
CarMax Inc. (NYSE:KMX)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer Holdings Inc. in a research report issued on Sunday.
Several other brokerages also recently issued reports on KMX. Buckingham Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and increased their price objective for the company from $59.00 to $63.00 in a research report on Friday, September 9th. They noted that the move was a valuation call. Robert W. Baird increased their price objective on shares of CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. Wedbush increased their price objective on shares of CarMax from $44.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Susquehanna began coverage on shares of CarMax in a research report on Thursday, August 25th. They issued a “positive” rating and a $70.00 price objective for the company. Finally, Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. CarMax has a consensus rating of “Hold” and a consensus target price of $62.01.
CarMax (NYSE:KMX) traded down 0.50% during mid-day trading on Friday, reaching $51.25. 2,190,185 shares of the company traded hands. CarMax has a 52-week low of $41.25 and a 52-week high of $60.81. The firm’s 50-day moving average is $55.32 and its 200 day moving average is $53.81. The stock has a market capitalization of $9.75 billion, a PE ratio of 16.66 and a beta of 1.42.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. CarMax had a net margin of 3.95% and a return on equity of 20.92%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the firm posted $0.79 earnings per share. CarMax’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that CarMax will post $3.28 earnings per share for the current year.
In other CarMax news, Director Jeffrey E. Garten sold 6,300 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $53.41, for a total value of $336,483.00. Following the sale, the director now directly owns 21,552 shares in the company, valued at $1,151,092.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric M. Margolin sold 12,639 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $60.21, for a total value of $760,994.19. Following the completion of the sale, the executive vice president now owns 38,303 shares in the company, valued at $2,306,223.63. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board boosted its stake in CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock worth $133,000 after buying an additional 900 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of CarMax by 91.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,086 shares of the company’s stock worth $151,000 after buying an additional 1,472 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of CarMax by 16.0% in the second quarter. IFP Advisors Inc now owns 3,272 shares of the company’s stock worth $160,000 after buying an additional 452 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of CarMax by 5.4% in the second quarter. Pacer Advisors Inc. now owns 3,453 shares of the company’s stock worth $169,000 after buying an additional 176 shares in the last quarter. Finally, Sii Investments Inc. WI bought a new stake in shares of CarMax during the second quarter worth $208,000.
CarMax Company Profile
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.
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