CIBC Reaffirms Market Perform Rating for CarMax Inc (KMX)
CarMax Inc (NYSE:KMX)‘s stock had its “market perform” rating restated by investment analysts at CIBC in a report released on Thursday.
A number of other equities analysts have also recently issued reports on KMX. Oppenheimer Holdings, Inc. set a $72.00 target price on CarMax and gave the stock a “buy” rating in a report on Monday, June 19th. Royal Bank Of Canada raised CarMax from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $63.00 to $69.00 in a report on Thursday, June 22nd. UBS AG cut CarMax from a “positive” rating to a “neutral” rating in a report on Thursday, June 22nd. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $70.00 price target (up previously from $66.00) on shares of CarMax in a research report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $74.00 price target (up previously from $72.00) on shares of CarMax in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $77.93.
CarMax (NYSE KMX) traded down 0.18% during trading on Thursday, reaching $76.31. The company had a trading volume of 420,249 shares. CarMax has a 12-month low of $47.50 and a 12-month high of $77.64. The firm’s 50 day moving average price is $68.93 and its 200 day moving average price is $63.55. The firm has a market capitalization of $13.98 billion, a PE ratio of 21.92 and a beta of 1.38.
CarMax (NYSE:KMX) last issued its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts anticipate that CarMax will post $3.81 earnings per share for the current year.
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In other CarMax news, EVP Edwin J. Hill sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total value of $2,270,800.00. Following the transaction, the executive vice president now owns 39,792 shares in the company, valued at $2,581,704.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric M. Margolin sold 26,838 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $64.15, for a total value of $1,721,657.70. Following the completion of the transaction, the executive vice president now owns 55,342 shares in the company, valued at approximately $3,550,189.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 658,670 shares of company stock worth $47,539,363. Corporate insiders own 1.70% of the company’s stock.
A number of large investors have recently made changes to their positions in KMX. Korea Investment CORP boosted its holdings in CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after acquiring an additional 1,033 shares in the last quarter. State of Alaska Department of Revenue bought a new position in CarMax in the second quarter worth approximately $112,000. Seven Eight Capital LP bought a new position in CarMax in the second quarter worth approximately $133,000. QS Investors LLC boosted its holdings in CarMax by 1.0% in the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after acquiring an additional 22 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of 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 purchasing an additional 169 shares during the last quarter.
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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