CarMax (KMX) Upgraded to Buy by Buckingham Research

Buckingham Research upgraded shares of CarMax (NYSE:KMX) from a neutral rating to a buy rating in a report published on Thursday morning, Marketbeat reports. The brokerage currently has $75.00 price objective on the stock.

Several other analysts have also recently issued reports on KMX. Oppenheimer reissued a hold rating and set a $80.00 price target on shares of CarMax in a research report on Wednesday, December 6th. Zacks Investment Research cut shares of CarMax from a buy rating to a hold rating in a research report on Tuesday, December 12th. Northcoast Research raised shares of CarMax from a neutral rating to a buy rating in a research report on Thursday, December 14th. Wedbush reissued an outperform rating and set a $81.00 price target on shares of CarMax in a research report on Friday, December 22nd. Finally, Credit Suisse Group raised shares of CarMax to a buy rating and set a $83.00 price target on the stock in a research report on Monday, December 25th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $78.85.

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Shares of KMX opened at $60.30 on Thursday. The stock has a market cap of $10,905.13, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.55. CarMax has a 1 year low of $55.05 and a 1 year high of $77.64. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.51 and a current ratio of 2.61.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Wednesday, April 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.10). The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.18 billion. CarMax had a return on equity of 21.09% and a net margin of 3.88%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. analysts predict that CarMax will post 4.34 EPS for the current year.

In related news, EVP Eric M. Margolin sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $71.78, for a total value of $1,435,600.00. Following the sale, the executive vice president now owns 41,051 shares of the company’s stock, valued at $2,946,640.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $72.40, for a total transaction of $579,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,584 shares of company stock worth $3,553,344. 1.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of KMX. OppenheimerFunds Inc. raised its holdings in CarMax by 11,777.3% in the fourth quarter. OppenheimerFunds Inc. now owns 3,854,895 shares of the company’s stock valued at $247,214,000 after acquiring an additional 3,822,439 shares in the last quarter. Mar Vista Investment Partners LLC acquired a new stake in CarMax in the fourth quarter valued at approximately $38,803,000. Sirios Capital Management L P increased its stake in CarMax by 81.5% in the fourth quarter. Sirios Capital Management L P now owns 1,216,018 shares of the company’s stock valued at $77,983,000 after purchasing an additional 546,024 shares during the last quarter. Calamos Advisors LLC increased its stake in CarMax by 851.9% in the fourth quarter. Calamos Advisors LLC now owns 517,649 shares of the company’s stock valued at $33,197,000 after purchasing an additional 463,268 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in CarMax in the fourth quarter valued at approximately $24,791,000.

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CarMax Company Profile

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)

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