CarMax (NYSE:KMX – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.
A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upped their target price on CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Robert W. Baird boosted their price objective on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Mizuho upped their price objective on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Finally, Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, CarMax presently has an average rating of “Reduce” and an average price target of $51.00.
Read Our Latest Research Report on KMX
CarMax Trading Down 0.7%
CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the business earned $1.38 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts anticipate that CarMax will post 2.72 earnings per share for the current fiscal year.
Insider Buying and Selling
In other CarMax news, Director Sona Chawla bought 2,000 shares of CarMax stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the acquisition, the director owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This represents a 10.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Barr purchased 9,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the transaction, the chief executive officer owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 13,900 shares of company stock worth $735,574. Corporate insiders own 1.01% of the company’s stock.
Hedge Funds Weigh In On CarMax
A number of hedge funds have recently modified their holdings of KMX. Jupiter Topco LLC acquired a new stake in CarMax during the second quarter valued at $245,676,000. Janus Henderson Group PLC increased its position in CarMax by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after purchasing an additional 49,987 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of CarMax during the 2nd quarter worth about $230,548,000. Dimensional Fund Advisors LP raised its stake in shares of CarMax by 7.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after purchasing an additional 289,768 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of CarMax during the 4th quarter valued at about $159,232,000.
About CarMax
CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.
In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.
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