CarMax’s (KMX) “Hold” Rating Reaffirmed at Needham & Company LLC

CarMax (NYSE:KMX)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a report issued on Friday, MarketBeat reports.

Several other research analysts also recently issued reports on KMX. Mizuho dropped their target price on shares of CarMax from $78.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, October 16th. Wall Street Zen lowered CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Oppenheimer restated a “market perform” rating on shares of CarMax in a research report on Friday, September 26th. Truist Financial reduced their price target on shares of CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Finally, BNP Paribas Exane lowered their price objective on shares of CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.67.

CarMax Price Performance

Shares of KMX stock traded up $0.13 during trading on Friday, hitting $31.01. The company had a trading volume of 2,985,725 shares, compared to its average volume of 3,525,740. The stock’s 50-day moving average is $49.75 and its two-hundred day moving average is $58.87. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. CarMax has a 52 week low of $30.26 and a 52 week high of $91.25.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a return on equity of 8.51% and a net margin of 1.98%.The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts predict that CarMax will post 3.23 EPS for the current fiscal year.

Institutional Trading of CarMax

Hedge funds have recently modified their holdings of the stock. Zions Bancorporation National Association UT acquired a new stake in CarMax during the first quarter worth approximately $27,000. CYBER HORNET ETFs LLC purchased a new stake in CarMax in the second quarter valued at $28,000. MUFG Securities EMEA plc acquired a new position in CarMax in the second quarter valued at $30,000. Center for Financial Planning Inc. purchased a new position in shares of CarMax during the third quarter worth about $31,000. Finally, Accent Capital Management LLC acquired a new stake in shares of CarMax during the first quarter worth about $34,000.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.