CarMax (NYSE:KMX) Receives Outperform Rating from Wedbush

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $95.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 27.18% from the stock’s current price.

KMX has been the topic of a number of other reports. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Argus raised CarMax to a “hold” rating in a research note on Tuesday, June 25th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. Royal Bank of Canada lifted their price objective on CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Mizuho lowered their target price on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $79.45.

CarMax Trading Up 1.4 %

NYSE KMX opened at $74.70 on Wednesday. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a 50-day simple moving average of $78.03 and a 200 day simple moving average of $75.39. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $11.66 billion, a PE ratio of 28.91, a P/E/G ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. Research analysts forecast that CarMax will post 2.97 EPS for the current year.

Insider Activity

In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the sale, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its holdings in CarMax by 29.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after buying an additional 37,660 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of CarMax by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after purchasing an additional 17,557 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of CarMax by 38.2% during the 1st quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock worth $4,861,000 after purchasing an additional 15,426 shares during the last quarter. Swedbank AB bought a new stake in shares of CarMax in the 1st quarter valued at about $1,406,000. Finally, SG Americas Securities LLC lifted its stake in CarMax by 7.9% in the 1st quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after purchasing an additional 1,688 shares during the last quarter.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.