CarMax Inc (KMX) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of CarMax Inc (NYSE:KMX) from a hold rating to a buy rating in a research note issued to investors on Sunday.
KMX has been the topic of several other reports. Zacks Investment Research cut shares of CarMax from a hold rating to a sell rating in a report on Tuesday, April 4th. Wedbush restated a neutral rating and set a $60.00 price target on shares of CarMax in a report on Monday, March 27th. Royal Bank Of Canada lowered their price target on shares of CarMax from $71.00 to $63.00 and set a sector perform rating on the stock in a report on Friday, April 7th. CIBC restated a buy rating on shares of CarMax in a report on Thursday, April 6th. Finally, Oppenheimer Holdings, Inc. set a $72.00 price target on shares of CarMax and gave the company a buy rating in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $69.00.
Shares of CarMax (NYSE KMX) traded down 0.94% on Friday, reaching $64.42. The company had a trading volume of 1,367,884 shares. The stock has a market capitalization of $11.80 billion, a PE ratio of 18.50 and a beta of 1.34. CarMax has a 52-week low of $47.50 and a 52-week high of $69.11. The company has a 50 day moving average price of $62.19 and a 200 day moving average price of $62.76.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the company posted $0.90 EPS. CarMax’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts anticipate that CarMax will post $3.70 earnings per share for the current year.
In related news, Director Edgar H. Grubb sold 2,000 shares of the company’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $58.24, for a total value of $116,480.00. Following the completion of the sale, the director now directly owns 42,005 shares in the company, valued at $2,446,371.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric M. Margolin sold 26,838 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $64.15, for a total transaction of $1,721,657.70. Following the completion of the sale, the executive vice president now owns 55,342 shares of the company’s stock, valued at $3,550,189.30. The disclosure for this sale can be found here. Insiders sold 97,497 shares of company stock valued at $6,103,933 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of KMX. State of Alaska Department of Revenue purchased a new position in CarMax during the second quarter worth $112,000. First Bank & Trust raised its position in CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock worth $124,000 after buying an additional 49 shares in the last quarter. Global X Management Co. LLC raised its position in CarMax by 7.3% in the first quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after buying an additional 169 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in CarMax by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,523 shares of the company’s stock worth $209,000 after buying an additional 110 shares in the last quarter.
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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