CarMax Inc (KMX) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of CarMax Inc (NYSE:KMX) from a buy rating to a hold rating in a report published on Saturday, July 22nd.

Other analysts have also recently issued reports about the stock. Oppenheimer Holdings, Inc. reissued a buy rating on shares of CarMax in a report on Wednesday, April 5th. CIBC reissued a buy rating on shares of CarMax in a report on Thursday, April 6th. Deutsche Bank AG dropped their target price on shares of CarMax from $73.00 to $72.00 and set a buy rating on the stock in a report on Thursday, April 6th. Susquehanna Bancshares Inc set a $70.00 target price on shares of CarMax and gave the stock a buy rating in a report on Friday, April 7th. Finally, Credit Suisse Group set a $75.00 target price on shares of CarMax and gave the stock a buy rating in a report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. CarMax presently has an average rating of Buy and an average target price of $69.00.

Shares of CarMax (NYSE:KMX) traded up 0.77% during midday trading on Friday, reaching $64.42. 944,395 shares of the company traded hands. CarMax has a 12 month low of $47.50 and a 12 month high of $69.11. The company has a 50 day moving average of $64.65 and a 200 day moving average of $62.81. The firm has a market capitalization of $11.80 billion, a P/E ratio of 18.50 and a beta of 1.34.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.46 billion. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. On average, equities research analysts predict that CarMax will post $3.70 earnings per share for the current fiscal year.

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In other CarMax news, Director Thomas J. Folliard sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 509,166 shares of the company’s stock, valued at approximately $31,267,884.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $66.87, for a total transaction of $573,945.21. Following the transaction, the chief financial officer now directly owns 70,522 shares in the company, valued at approximately $4,715,806.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,515 shares of company stock worth $12,085,019. 1.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Korea Investment CORP raised its position in CarMax by 140.5% in the second quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after buying an additional 1,033 shares during the period. State of Alaska Department of Revenue acquired a new position in CarMax during the second quarter valued at $112,000. First Bank & Trust raised its position in CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock valued at $123,000 after buying an additional 138 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in CarMax by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock valued at $124,000 after buying an additional 49 shares during the period. Finally, Seven Eight Capital LP acquired a new position in CarMax during the second quarter valued at $133,000.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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