CarMax Inc. (NYSE:KMX) had its target price hoisted by stock analysts at Deutsche Bank AG from $65.00 to $66.00 in a research report issued on Thursday. The brokerage presently has a “hold” rating on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 20.83% from the stock’s previous close.
A number of other research firms also recently issued reports on KMX. Buckingham Research downgraded shares of CarMax from a “buy” rating to a “neutral” rating and increased their price target for the stock from $59.00 to $63.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Robert W. Baird raised their target price on shares of CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, September 7th. Wedbush raised their target price on shares of CarMax from $44.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Susquehanna assumed coverage on shares of CarMax in a research note on Thursday, August 25th. They set a “positive” rating and a $70.00 target price for the company. Finally, Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.39.
CarMax (NYSE:KMX) traded up 0.5308% during midday trading on Thursday, hitting $54.9099. 399,109 shares of the company were exchanged. The stock has a 50 day moving average of $58.32 and a 200-day moving average of $53.57. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 17.9444 and a beta of 1.46. CarMax has a 1-year low of $41.25 and a 1-year high of $60.81.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.88. CarMax had a net margin of 4.04% and a return on equity of 20.54%. The company earned $4 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. CarMax’s revenue was up 2.9% on a year-over-year basis. Equities analysts expect that CarMax will post $3.29 earnings per share for the current year.
In other news, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction on Friday, July 8th. The shares were sold at an average price of $51.00, for a total transaction of $510,000.00. Following the transaction, the senior vice president now owns 23,967 shares in the company, valued at approximately $1,222,317. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eric M. Margolin sold 2,000 shares of CarMax stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $50.75, for a total transaction of $101,500.00. Following the transaction, the executive vice president now owns 34,303 shares in the company, valued at approximately $1,740,877.25. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its position in shares of CarMax by 2.2% in the first quarter. TIAA CREF Investment Management LLC now owns 2,727,267 shares of the company’s stock valued at $139,363,000 after buying an additional 58,542 shares in the last quarter. Ngam Advisors L.P. boosted its position in shares of CarMax by 26.2% in the first quarter. Ngam Advisors L.P. now owns 76,582 shares of the company’s stock valued at $3,913,000 after buying an additional 15,902 shares in the last quarter. Gagnon Securities LLC boosted its position in shares of CarMax by 28.4% in the first quarter. Gagnon Securities LLC now owns 24,777 shares of the company’s stock valued at $1,266,000 after buying an additional 5,476 shares in the last quarter. IFP Advisors Inc boosted its position in shares of CarMax by 9.8% in the first quarter. IFP Advisors Inc now owns 2,820 shares of the company’s stock valued at $144,000 after buying an additional 251 shares in the last quarter. Finally, Virginia Retirement System acquired a new position in shares of CarMax during the first quarter valued at $2,503,000.
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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