CarMax (NYSE:KMX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CarMax (NYSE:KMX) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Several other brokerages have also recently issued reports on KMX. Needham & Company LLC reissued a “hold” rating on shares of CarMax in a research note on Friday, November 7th. Evercore ISI reiterated a “reduce” rating and set a $36.00 price target on shares of CarMax in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. Barclays lifted their price objective on CarMax from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada increased their target price on CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $39.64.

CarMax Stock Performance

Shares of KMX stock opened at $44.80 on Friday. The stock’s 50-day moving average price is $41.99 and its 200 day moving average price is $47.59. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $6.35 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.07 and a beta of 1.35. CarMax has a 52-week low of $30.26 and a 52-week high of $89.47.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the business posted $0.81 EPS. The company’s revenue was down 6.9% on a year-over-year basis. As a group, equities research analysts forecast that CarMax will post 3.23 EPS for the current year.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new stake in CarMax in the second quarter valued at $28,000. MUFG Securities EMEA plc purchased a new stake in shares of CarMax in the 2nd quarter worth about $30,000. Center for Financial Planning Inc. acquired a new stake in CarMax in the 3rd quarter valued at about $31,000. Advisory Services Network LLC purchased a new position in CarMax during the 3rd quarter valued at about $32,000. Finally, True Wealth Design LLC raised its position in CarMax by 54.3% during the fourth quarter. True Wealth Design LLC now owns 907 shares of the company’s stock worth $35,000 after acquiring an additional 319 shares during the last quarter.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.