CarMax Inc (NYSE:KMX) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of CarMax Inc (NYSE:KMX) from a hold rating to a buy rating in a report published on Sunday.

KMX has been the subject of several other reports. Deutsche Bank AG decreased their target price on shares of CarMax from $73.00 to $72.00 and set a buy rating for the company in a research report on Tuesday, July 4th. Zacks Investment Research downgraded shares of CarMax from a hold rating to a sell rating in a research report on Tuesday, April 4th. Oppenheimer Holdings, Inc. set a $72.00 target price on shares of CarMax and gave the stock a buy rating in a research report on Friday, April 21st. Wedbush reissued a neutral rating and issued a $60.00 target price on shares of CarMax in a research report on Monday, March 27th. Finally, UBS AG downgraded shares of CarMax from a positive rating to a neutral rating in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CarMax currently has an average rating of Buy and a consensus target price of $69.00.

Shares of CarMax (KMX) traded down 0.94% during trading on Friday, hitting $64.42. 1,367,884 shares of the company’s stock were exchanged. The firm has a market capitalization of $11.80 billion, a PE ratio of 18.50 and a beta of 1.34. The stock’s 50 day moving average is $62.19 and its 200 day moving average is $62.76. CarMax has a 1-year low of $47.50 and a 1-year high of $69.11.

CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.15. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, equities research analysts forecast that CarMax will post $3.70 earnings per share for the current year.

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In other news, EVP Eric M. Margolin sold 18,659 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $64.06, for a total value of $1,195,295.54. Following the completion of the transaction, the executive vice president now owns 47,163 shares in the company, valued at approximately $3,021,261.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas J. Folliard sold 50,000 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $61.41, for a total transaction of $3,070,500.00. Following the completion of the transaction, the director now owns 509,166 shares of the company’s stock, valued at approximately $31,267,884.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,497 shares of company stock valued at $6,103,933. Corporate insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in KMX. First Bank & Trust boosted its stake in shares of 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 during the period. Quantitative Systematic Strategies LLC boosted its stake in shares of CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock worth $2,085,000 after buying an additional 9,221 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of CarMax by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock worth $11,467,000 after buying an additional 11,352 shares during the period. Legal & General Group Plc boosted its stake in shares of CarMax by 2.6% in the first quarter. Legal & General Group Plc now owns 907,143 shares of the company’s stock worth $53,722,000 after buying an additional 23,085 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of CarMax by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,076 shares of the company’s stock worth $281,000 after buying an additional 131 shares during the period.

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.