CarMax Inc (KMX) Downgraded by ValuEngine

ValuEngine cut shares of CarMax Inc (NYSE:KMX) from a buy rating to a hold rating in a research note issued to investors on Saturday, July 22nd.

Several other equities research analysts have also issued reports on KMX. Wedbush reissued a neutral rating and set a $60.00 target price on shares of CarMax in a research note on Monday, March 27th. Zacks Investment Research lowered shares of CarMax from a hold rating to a sell rating in a research note on Tuesday, April 4th. Oppenheimer Holdings, Inc. reissued a buy rating on shares of CarMax in a research note on Wednesday, April 5th. Royal Bank Of Canada reissued a market perform rating and set a $63.00 target price (down from $71.00) on shares of CarMax in a research note on Thursday, April 6th. Finally, Deutsche Bank AG lowered their target price on shares of CarMax from $73.00 to $72.00 and set a buy rating on the stock in a research note on Thursday, April 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $69.15.

CarMax (NYSE:KMX) remained flat at $63.97 during trading on Friday. 1,230,378 shares of the company’s stock were exchanged. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 18.37 and a beta of 1.34. CarMax has a 1-year low of $47.50 and a 1-year high of $69.11. The company has a 50 day moving average price of $64.93 and a 200 day moving average price of $62.69.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 21st. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.98 by $0.15. CarMax had a net margin of 4.07% and a return on equity of 21.72%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that CarMax will post $3.71 EPS for the current year.

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

Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of CarMax by 24.2% in the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock worth $3,957,000 after buying an additional 12,234 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of CarMax during the second quarter worth about $2,345,000. WINTON GROUP Ltd purchased a new stake in shares of CarMax during the second quarter worth about $2,083,000. Sterling Capital Management LLC increased its stake in shares of CarMax by 1.8% in the second quarter. Sterling Capital Management LLC now owns 19,500 shares of the company’s stock worth $1,230,000 after buying an additional 353 shares in the last quarter. Finally, DF Dent & Co. Inc. increased its stake in shares of CarMax by 6.7% in the second quarter. DF Dent & Co. Inc. now owns 1,566,014 shares of the company’s stock worth $98,753,000 after buying an additional 98,480 shares in 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.

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

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