CarMax (KMX) Now Covered by Analysts at Moffett Nathanson

Moffett Nathanson initiated coverage on shares of CarMax (NYSE:KMX) in a research note published on Monday morning. The brokerage issued a neutral rating on the stock.

KMX has been the topic of several other reports. Oppenheimer reaffirmed a buy rating on shares of CarMax in a report on Friday, September 1st. Zacks Investment Research raised shares of CarMax from a hold rating to a strong-buy rating and set a $74.00 price objective on the stock in a report on Wednesday, August 16th. Deutsche Bank dropped their price objective on shares of CarMax from $84.00 to $76.00 and set a hold rating on the stock in a report on Sunday, November 26th. CIBC reaffirmed a market perform rating on shares of CarMax in a report on Thursday, October 5th. Finally, Royal Bank Of Canada upped their price objective on shares of CarMax from $77.00 to $83.00 and gave the company an outperform rating in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $77.00.

CarMax (NYSE KMX) traded up $2.33 during mid-day trading on Monday, hitting $70.71. 2,748,700 shares of the stock traded hands, compared to its average volume of 2,222,086. The stock has a market cap of $12,467.72, a P/E ratio of 18.79, a P/E/G ratio of 1.15 and a beta of 1.48. The company has a debt-to-equity ratio of 3.82, a current ratio of 2.33 and a quick ratio of 0.48. CarMax has a fifty-two week low of $54.29 and a fifty-two week high of $77.64.

CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, September 22nd. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. equities analysts forecast that CarMax will post 3.84 earnings per share for the current year.

In related news, SVP Diane L. Cafritz sold 5,671 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $73.95, for a total transaction of $419,370.45. Following the sale, the senior vice president now directly owns 7,475 shares of the company’s stock, valued at $552,776.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas J. Folliard sold 8,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $68.72, for a total transaction of $549,760.00. Following the sale, the director now directly owns 447,572 shares in the company, valued at $30,757,147.84. The disclosure for this sale can be found here. Insiders have sold 625,955 shares of company stock worth $46,214,378 over the last three months. 1.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in CarMax by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,185,184 shares of the company’s stock worth $1,146,758,000 after acquiring an additional 380,038 shares during the period. BlackRock Inc. raised its position in CarMax by 0.5% during the second quarter. BlackRock Inc. now owns 11,142,473 shares of the company’s stock worth $702,643,000 after acquiring an additional 53,840 shares during the period. Principal Financial Group Inc. raised its position in CarMax by 1.5% during the third quarter. Principal Financial Group Inc. now owns 9,319,193 shares of the company’s stock worth $706,487,000 after acquiring an additional 142,175 shares during the period. Broad Run Investment Management LLC raised its position in CarMax by 0.9% during the second quarter. Broad Run Investment Management LLC now owns 3,377,241 shares of the company’s stock worth $212,969,000 after acquiring an additional 29,846 shares during the period. Finally, Nordea Investment Management AB raised its position in CarMax by 751.0% during the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock worth $135,465,000 after acquiring an additional 1,895,763 shares during the period.

ILLEGAL ACTIVITY NOTICE: This piece was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2017/12/05/carmax-kmx-now-covered-by-analysts-at-moffett-nathanson.html.

About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Analyst Recommendations for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply