CarMax (KMX) Upgraded by Oppenheimer to “Outperform”

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.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a return on equity of 21.77% and a net margin of 4.07%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. sell-side analysts expect that CarMax will post 3.84 earnings per share for the current year.

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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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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