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.
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.
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