CarMax Inc (KMX) Downgraded to “Market Perform” at UBS AG
KMX has been the subject of a number of other reports. Citigroup Inc. lifted their price objective on CarMax to $84.00 and gave the company a buy rating in a report on Monday, September 25th. Deutsche Bank AG cut their price objective on CarMax from $73.00 to $72.00 and set a buy rating for the company in a report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) cut CarMax from a buy rating to a neutral rating and lifted their price objective for the company from $74.00 to $79.00 in a report on Monday, September 25th. Zacks Investment Research raised CarMax from a hold rating to a strong-buy rating and set a $74.00 price objective for the company in a report on Wednesday, August 16th. Finally, Wedbush reissued an outperform rating and set a $81.00 price objective (up from $77.00) on shares of CarMax in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $77.93.
CarMax (NYSE:KMX) traded up 0.58% during mid-day trading on Thursday, hitting $76.81. 1,298,360 shares of the company were exchanged. The stock’s 50 day moving average is $69.26 and its 200-day moving average is $63.64. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 22.06 and a beta of 1.38. CarMax has a 12-month low of $47.50 and a 12-month high of $77.64.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The company had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.88 earnings per share. Equities research analysts predict that CarMax will post $3.81 EPS for the current year.
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In other CarMax news, CEO William D. Nash sold 100,522 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $73.85, for a total transaction of $7,423,549.70. Following the completion of the sale, the chief executive officer now directly owns 62,902 shares of the company’s stock, valued at approximately $4,645,312.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mohammad Shamim sold 1,300 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $76.10, for a total value of $98,930.00. The disclosure for this sale can be found here. Insiders have sold a total of 644,520 shares of company stock valued at $46,786,223 over the last three months. Company insiders own 1.70% of the company’s stock.
Large investors have recently made changes to their positions in the business. Korea Investment CORP raised its holdings in CarMax by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after purchasing an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in CarMax during the 2nd quarter worth about $112,000. Seven Eight Capital LP bought a new stake in CarMax during the 2nd quarter worth about $133,000. QS Investors LLC raised its holdings in CarMax by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after purchasing an additional 22 shares during the last quarter. Finally, Global X Management Co. LLC raised its holdings in CarMax by 7.3% during the 1st 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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