CarMax (NYSE:KMX) Sets New 52-Week High at $81.87

CarMax, Inc (NYSE:KMX) reached a new 52-week high during trading on Monday . The stock traded as high as $81.87 and last traded at $81.29, with a volume of 32292 shares. The stock had previously closed at $79.89.

Several research firms have recently commented on KMX. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Monday. Wedbush reiterated a “neutral” rating on shares of CarMax in a research note on Friday, May 17th. Morgan Stanley lifted their price objective on shares of CarMax from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Buckingham Research lifted their price objective on shares of CarMax from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Credit Suisse Group lifted their price objective on shares of CarMax from $75.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. CarMax has a consensus rating of “Buy” and a consensus target price of $81.00.

The stock has a market cap of $13.28 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. 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 posted its earnings results on Friday, March 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $4.32 billion during 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 firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, research analysts forecast that CarMax, Inc will post 5.14 EPS for the current fiscal year.

In other CarMax news, Director Thomas J. Folliard sold 360,006 shares of CarMax stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $71.18, for a total value of $25,625,227.08. Following the completion of the transaction, the director now owns 511,879 shares of the company’s stock, valued at $36,435,547.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric M. Margolin sold 20,000 shares of CarMax stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $77.74, for a total transaction of $1,554,800.00. Following the completion of the transaction, the executive vice president now directly owns 35,160 shares of the company’s stock, valued at approximately $2,733,338.40. The disclosure for this sale can be found here. Insiders have sold 383,490 shares of company stock valued at $27,427,530 over the last 90 days. 2.09% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new position in CarMax in the fourth quarter valued at $27,000. Citizens Financial Group Inc RI purchased a new position in CarMax in the fourth quarter valued at $33,000. Liberty Wealth Management LLC purchased a new position in CarMax in the first quarter valued at $39,000. Lazard Asset Management LLC purchased a new position in CarMax in the first quarter valued at $51,000. Finally, Semmax Financial Advisors Inc. purchased a new position in CarMax in the fourth quarter valued at $48,000.

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CarMax Company Profile (NYSE:KMX)

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.

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