CarMax Inc. (NYSE:KMX) – Stock analysts at Oppenheimer Holdings raised their FY2017 EPS estimates for shares of CarMax in a report released on Wednesday. Oppenheimer Holdings analyst B. Nagel now anticipates that the firm will earn $3.31 per share for the year, up from their prior forecast of $3.30. Oppenheimer Holdings has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for CarMax’s Q4 2017 earnings at $0.81 EPS.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. CarMax’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.79 earnings per share.
A number of other equities analysts have also recently issued reports on the company. Susquehanna assumed coverage on CarMax in a report on Thursday, August 25th. They issued a “positive” rating and a $70.00 target price for the company. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Tuesday, September 13th. Deutsche Bank AG upped their target price on CarMax from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Wedbush reiterated a “neutral” rating and issued a $44.00 price target on shares of CarMax in a research report on Wednesday, July 20th. Finally, Robert W. Baird upped their price target on CarMax from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $62.01.
CarMax (NYSE:KMX) traded down 0.85% during midday trading on Friday, hitting $52.33. The stock had a trading volume of 1,800,514 shares. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 17.01 and a beta of 1.42. CarMax has a 52 week low of $41.25 and a 52 week high of $60.81. The company’s 50 day moving average price is $56.34 and its 200-day moving average price is $53.75.
Hedge funds have recently modified their holdings of the stock. Cupps Capital Management LLC acquired a new stake in shares of CarMax during the first quarter worth approximately $832,000. BB&T Securities LLC raised its position in shares of CarMax by 27.8% in the first quarter. BB&T Securities LLC now owns 111,495 shares of the company’s stock valued at $5,697,000 after buying an additional 24,251 shares during the period. Canada Pension Plan Investment Board raised its position in shares of CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock valued at $133,000 after buying an additional 900 shares during the period. Credit Agricole S A raised its position in shares of CarMax by 40.2% in the first quarter. Credit Agricole S A now owns 45,072 shares of the company’s stock valued at $2,304,000 after buying an additional 12,915 shares during the period. Finally, ING Groep NV purchased a new position in shares of CarMax during the first quarter valued at $229,000.
In related news, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $55.45, for a total transaction of $3,204,732.75. Following the completion of the sale, the chief financial officer now directly owns 72,135 shares of the company’s stock, valued at $3,999,885.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric M. Margolin sold 2,000 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $52.95, for a total value of $105,900.00. Following the sale, the executive vice president now directly owns 32,303 shares of the company’s stock, valued at $1,710,443.85. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
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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