CarMax’s (KMX) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of CarMax (NYSE:KMX) in a report published on Friday morning, MarketBeat reports.

A number of other equities analysts also recently commented on the company. BNP Paribas Exane decreased their price target on CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. Zacks Research lowered CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. William Blair lowered shares of CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday. Stephens lowered CarMax from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $42.00 in a report on Tuesday, October 7th. Finally, Evercore ISI decreased their target price on shares of CarMax from $52.00 to $35.00 and set an “in-line” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $43.83.

CarMax Price Performance

Shares of KMX stock traded up $0.81 during mid-day trading on Friday, reaching $33.17. The stock had a trading volume of 2,524,482 shares, compared to its average volume of 3,564,953. CarMax has a 12-month low of $30.26 and a 12-month high of $91.25. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The business has a 50-day simple moving average of $49.17 and a 200 day simple moving average of $58.57. The company has a market cap of $4.87 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.CarMax’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. On average, sell-side analysts anticipate that CarMax will post 3.23 earnings per share for the current year.

Institutional Trading of CarMax

Institutional investors have recently bought and sold shares of the stock. Zions Bancorporation National Association UT bought a new stake in CarMax in the first quarter valued at about $27,000. CYBER HORNET ETFs LLC acquired a new position in CarMax in the 2nd quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax in the 2nd quarter valued at $30,000. Center for Financial Planning Inc. bought a new stake in CarMax during the third quarter worth $31,000. Finally, Accent Capital Management LLC purchased a new stake in CarMax in the 1st quarter valued at about $34,000.

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.