CarMax (NYSE:KMX) had its price target raised by Morgan Stanley from $89.00 to $93.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock.
A number of other equities analysts have also weighed in on KMX. Zacks Investment Research lowered shares of CarMax from a hold rating to a sell rating in a research report on Friday, March 15th. Oppenheimer reissued a buy rating on shares of CarMax in a research report on Thursday, December 20th. Royal Bank of Canada cut their price objective on shares of CarMax to $67.00 and set an outperform rating for the company in a research report on Wednesday, December 19th. Credit Suisse Group boosted their price objective on shares of CarMax from $75.00 to $84.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Buckingham Research boosted their price objective on shares of CarMax from $76.00 to $81.00 and gave the company a buy rating in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $82.00.
Shares of NYSE KMX opened at $77.00 on Wednesday. CarMax has a 12-month low of $55.24 and a 12-month high of $81.67. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28. The company has a current ratio of 2.45, a quick ratio of 0.53 and a debt-to-equity ratio of 4.11.
CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, March 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.36 billion. CarMax had a net margin of 4.64% and a return on equity of 24.67%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, equities analysts predict that CarMax will post 5.13 EPS for the current fiscal year.
In related news, SVP Diane L. Cafritz sold 3,484 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $71.04, for a total transaction of $247,503.36. Following the completion of the transaction, the senior vice president now owns 11,331 shares of the company’s stock, valued at $804,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 360,006 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $71.18, for a total transaction of $25,625,227.08. Following the transaction, the director now directly owns 511,879 shares of the company’s stock, valued at approximately $36,435,547.22. The disclosure for this sale can be found here. Insiders have sold 383,655 shares of company stock valued at $27,437,638 in the last ninety days. 1.97% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Brown Advisory Inc. increased its position in CarMax by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 2,551,474 shares of the company’s stock worth $160,054,000 after purchasing an additional 26,977 shares during the last quarter. Geode Capital Management LLC increased its position in CarMax by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,190,864 shares of the company’s stock worth $137,181,000 after purchasing an additional 140,198 shares during the last quarter. Northern Trust Corp increased its position in CarMax by 2.8% during the fourth quarter. Northern Trust Corp now owns 1,962,841 shares of the company’s stock worth $123,129,000 after purchasing an additional 53,495 shares during the last quarter. Dimensional Fund Advisors LP increased its position in CarMax by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,891 shares of the company’s stock worth $94,404,000 after purchasing an additional 258,689 shares during the last quarter. Finally, Norges Bank acquired a new position in CarMax during the fourth quarter worth approximately $83,206,000.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
See Also: Gap Up Stocks
Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.