CarMax (NYSE:KMX) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report released on Thursday. The firm presently has a $88.00 price target on the stock, up from their previous price target of $80.00. Oppenheimer’s price objective suggests a potential upside of 24.68% from the company’s current price. Oppenheimer also issued estimates for CarMax’s Q4 2018 earnings at $0.82 EPS, Q1 2019 earnings at $1.30 EPS, Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $1.04 EPS and FY2020 earnings at $4.90 EPS.
Several other research firms have also weighed in on KMX. Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of CarMax in a report on Friday, December 22nd. Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Susquehanna Bancshares set a $68.00 target price on CarMax and gave the stock a “hold” rating in a report on Monday, January 1st. Royal Bank of Canada lifted their target price on CarMax from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, September 25th. Finally, Deutsche Bank reiterated a “buy” rating and set a $84.00 target price on shares of CarMax in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $78.33.
CarMax (NYSE KMX) traded up $0.04 during mid-day trading on Thursday, reaching $70.58. The company’s stock had a trading volume of 1,202,842 shares, compared to its average volume of 1,984,928. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83. The company has a market capitalization of $12,757.01, a price-to-earnings ratio of 18.92, a PEG ratio of 1.24 and a beta of 1.48. CarMax has a 52-week low of $54.29 and a 52-week high of $77.64.
In other news, SVP Darren C. Newberry sold 6,584 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $72.61, for a total value of $478,064.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas J. Folliard sold 8,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $72.40, for a total value of $579,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,037 shares of company stock worth $5,140,835. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMX. AXA raised its holdings in CarMax by 1.8% during the second quarter. AXA now owns 16,700 shares of the company’s stock worth $1,053,000 after acquiring an additional 300 shares in the last quarter. Alliancebernstein L.P. raised its holdings in CarMax by 9.9% during the second quarter. Alliancebernstein L.P. now owns 351,734 shares of the company’s stock worth $22,180,000 after acquiring an additional 31,659 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in CarMax by 9.6% during the second quarter. Riverhead Capital Management LLC now owns 6,546 shares of the company’s stock worth $413,000 after acquiring an additional 573 shares in the last quarter. Teachers Advisors LLC raised its holdings in CarMax by 2.1% during the second quarter. Teachers Advisors LLC now owns 271,619 shares of the company’s stock worth $17,128,000 after acquiring an additional 5,695 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in 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 acquiring an additional 53,840 shares in the last quarter.
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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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