CarMax (NYSE:KMX) Upgraded by Argus to Hold Rating

CarMax (NYSE:KMX) was upgraded by equities research analysts at Argus to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the company. Truist Financial raised their price target on CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Mizuho reduced their price target on CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Bank of America began coverage on CarMax in a report on Wednesday. They issued an “underperform” rating and a $40.00 price target for the company. JPMorgan Chase & Co. raised their price target on CarMax from $28.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Evercore set a $45.00 price objective on CarMax in a report on Friday, April 10th. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, CarMax currently has an average rating of “Reduce” and an average target price of $41.21.

CarMax Stock Up 1.0%

CarMax stock opened at $40.90 on Thursday. The company has a current ratio of 2.20, a quick ratio of 0.51 and a debt-to-equity ratio of 2.93. The stock has a 50 day moving average of $42.64 and a two-hundred day moving average of $41.93. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.12 and a beta of 1.30. CarMax has a twelve month low of $30.26 and a twelve month high of $71.99.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.65 billion. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. As a group, research analysts expect that CarMax will post 3.23 earnings per share 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. Huntington National Bank raised its holdings in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of CarMax in the second quarter worth $28,000. MUFG Securities EMEA plc acquired a new position in shares of CarMax in the second quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in shares of CarMax in the third quarter worth $31,000. Finally, Advisory Services Network LLC acquired a new position in shares of CarMax in the third quarter worth $32,000.

About CarMax

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.