CarMax’s (KMX) “Neutral” Rating Reaffirmed at Wedbush

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CarMax (NYSE:KMX)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research note issued on Friday, 24/7 WallStreet reports.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday, April 22nd. Morgan Stanley boosted their price target on shares of CarMax from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Credit Suisse Group boosted their price target on shares of CarMax from $75.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Buckingham Research boosted their price target on shares of CarMax from $76.00 to $81.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $83.00 to $93.00 in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $82.36.

Shares of CarMax stock opened at $76.39 on Friday. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.53 and a current ratio of 2.45. CarMax has a 52-week low of $55.24 and a 52-week high of $81.67.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, March 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.36 billion. CarMax had a net margin of 4.64% and a return on equity of 24.67%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. Analysts expect that CarMax will post 5.13 EPS for the current fiscal year.

In other news, EVP Eric M. Margolin sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $77.74, for a total value of $1,554,800.00. Following the sale, the executive vice president now owns 35,160 shares of the company’s stock, valued at approximately $2,733,338.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Diane L. Cafritz sold 3,484 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $71.04, for a total transaction of $247,503.36. Following the completion of the sale, the senior vice president now directly owns 11,331 shares in the company, valued at approximately $804,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,655 shares of company stock worth $27,437,638. 2.09% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First National Bank of South Miami grew its holdings in shares of CarMax by 4.4% in the 1st quarter. First National Bank of South Miami now owns 3,267 shares of the company’s stock worth $228,000 after purchasing an additional 138 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of CarMax by 0.3% in the 1st quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock worth $4,570,000 after purchasing an additional 167 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of CarMax by 35.3% in the 4th quarter. Private Capital Group LLC now owns 721 shares of the company’s stock worth $45,000 after purchasing an additional 188 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of CarMax by 3.1% in the 1st quarter. LS Investment Advisors LLC now owns 6,278 shares of the company’s stock worth $438,000 after purchasing an additional 190 shares during the last quarter. Finally, Graybill Bartz & Assoc Ltd. grew its holdings in shares of CarMax by 0.4% in the 1st quarter. Graybill Bartz & Assoc Ltd. now owns 55,610 shares of the company’s stock worth $3,882,000 after purchasing an additional 210 shares during the last quarter.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Analyst Recommendations for CarMax (NYSE:KMX)

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