CarMax (NYSE:KMX) Receives “Neutral” Rating from Wedbush

Wedbush reissued their neutral rating on shares of CarMax (NYSE:KMX) in a report released on Thursday,Benzinga reports. The brokerage currently has a $54.00 price target on the stock.

KMX has been the subject of a number of other reports. Wall Street Zen cut shares of CarMax from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Needham & Company LLC decreased their price objective on shares of CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Oppenheimer restated a “market perform” rating on shares of CarMax in a research note on Friday, September 26th. Robert W. Baird cut their target price on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Finally, Stephens lowered shares of CarMax from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $53.00 to $42.00 in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.75.

CarMax Stock Performance

NYSE:KMX opened at $43.23 on Thursday. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06. The firm has a 50-day moving average of $54.71 and a two-hundred day moving average of $62.09. The stock has a market cap of $6.35 billion, a P/E ratio of 12.68, a PEG ratio of 0.85 and a beta of 1.27. CarMax has a 1-year low of $42.75 and a 1-year high of $91.25.

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

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently bought and sold shares of KMX. Farther Finance Advisors LLC raised its stake in CarMax by 138.3% during the first quarter. Farther Finance Advisors LLC now owns 2,397 shares of the company’s stock worth $189,000 after acquiring an additional 1,391 shares during the period. GAMMA Investing LLC raised its stake in CarMax by 12.6% during the first quarter. GAMMA Investing LLC now owns 6,620 shares of the company’s stock worth $516,000 after acquiring an additional 742 shares during the period. SG Americas Securities LLC raised its stake in CarMax by 105.7% during the first quarter. SG Americas Securities LLC now owns 11,303 shares of the company’s stock worth $881,000 after acquiring an additional 5,808 shares during the period. Janney Montgomery Scott LLC raised its stake in CarMax by 2.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,143 shares of the company’s stock worth $1,258,000 after acquiring an additional 380 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in CarMax by 2.0% during the first quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company’s stock worth $1,404,000 after acquiring an additional 355 shares during the period.

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.