CarMax (KMX) Upgraded to “Buy” by Berenberg Bank

Berenberg Bank upgraded shares of CarMax (NYSE:KMX) from a hold rating to a buy rating in a report published on Monday, Marketbeat Ratings reports. The firm currently has $83.00 price target on the stock.

KMX has been the topic of several other reports. Citigroup increased their price target on shares of CarMax to $84.00 and gave the company a buy rating in a research note on Monday, September 25th. Zacks Investment Research lowered shares of CarMax from a buy rating to a hold rating in a research report on Tuesday, October 31st. Goldman Sachs Group lowered shares of CarMax from a buy rating to a neutral rating and raised their target price for the stock from $74.00 to $79.00 in a research report on Monday, September 25th. Susquehanna Bancshares set a $68.00 target price on shares of CarMax and gave the stock a hold rating in a research report on Tuesday, December 26th. Finally, Wedbush restated an outperform rating and set a $81.00 target price (up from $77.00) on shares of CarMax in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $77.07.

CarMax (KMX) opened at $70.30 on Monday. The company has a market cap of $12,710.00, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48. CarMax has a one year low of $54.29 and a one year high of $77.64. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 21st. The company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. equities research analysts anticipate that CarMax will post 3.86 EPS for the current fiscal year.

In related news, EVP Edwin J. Hill sold 25,000 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $75.75, for a total transaction of $1,893,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric M. Margolin sold 4,453 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $75.30, for a total value of $335,310.90. Following the sale, the executive vice president now directly owns 22,051 shares of the company’s stock, valued at $1,660,440.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,453 shares of company stock valued at $6,578,041. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of CarMax by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock worth $1,146,758,000 after purchasing an additional 380,038 shares during the period. BlackRock Inc. lifted its holdings in shares of CarMax by 0.5% during the second quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock worth $702,643,000 after purchasing an additional 53,840 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CarMax by 1.5% during the third quarter. Principal Financial Group Inc. now owns 9,319,193 shares of the company’s stock worth $706,487,000 after purchasing an additional 142,175 shares during the period. Broad Run Investment Management LLC lifted its holdings in shares of CarMax by 0.9% during the second quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock worth $212,969,000 after purchasing an additional 29,846 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of CarMax by 751.0% during the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock worth $135,465,000 after purchasing an additional 1,895,763 shares during the period.

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About CarMax

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.

Analyst Recommendations for CarMax (NYSE:KMX)

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