CarMax (NYSE:KMX) Downgraded by ValuEngine

ValuEngine lowered shares of CarMax (NYSE:KMX) from a buy rating to a hold rating in a research report released on Thursday, ValuEngine reports.

Several other analysts have also recently weighed in on KMX. Morgan Stanley boosted 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. Northcoast Research cut shares of CarMax from a buy rating to a neutral rating and set a $86.50 price objective on the stock. in a research note on Friday, June 28th. Zacks Investment Research raised shares of CarMax from a hold rating to a buy rating and set a $85.00 price objective on the stock in a research note on Monday, June 10th. Buckingham Research cut shares of CarMax from a buy rating to a neutral rating and boosted their price objective for the stock from $81.00 to $94.00 in a research note on Monday, June 24th. They noted that the move was a valuation call. Finally, Wedbush boosted their price objective on shares of CarMax from $65.00 to $80.00 and gave the stock an average rating in a research note on Monday, June 24th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $93.81.

Shares of CarMax stock traded down $1.87 during trading on Thursday, hitting $84.13. The company’s stock had a trading volume of 57,047 shares, compared to its average volume of 1,508,035. The company has a debt-to-equity ratio of 4.20, a quick ratio of 0.49 and a current ratio of 2.21. CarMax has a 52 week low of $55.24 and a 52 week high of $92.01. The stock has a market capitalization of $14.00 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20. The firm’s 50-day moving average is $86.78.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.10. CarMax had a net margin of 4.64% and a return on equity of 25.37%. The company had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. CarMax’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts predict that CarMax will post 5.26 EPS for the current fiscal year.

In other CarMax news, SVP Diane L. Cafritz sold 8,300 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $732,475.00. Following the sale, the senior vice president now owns 11,706 shares of the company’s stock, valued at $1,033,054.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mohammad Shamim sold 13,894 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $90.39, for a total transaction of $1,255,878.66. Following the sale, the senior vice president now directly owns 16,718 shares in the company, valued at approximately $1,511,140.02. The disclosure for this sale can be found here. Insiders have sold 377,047 shares of company stock worth $31,898,938 in the last ninety days. Insiders own 2.09% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Akre Capital Management LLC boosted its position in shares of CarMax by 5.2% during the 1st quarter. Akre Capital Management LLC now owns 6,077,981 shares of the company’s stock worth $424,243,000 after purchasing an additional 300,800 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CarMax by 6.8% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CarMax by 20.8% during the 4th 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 in the last quarter. Norges Bank bought a new position in shares of CarMax during the 4th quarter worth about $83,206,000. Finally, Giverny Capital Inc. boosted its position in shares of CarMax by 2.9% during the 1st quarter. Giverny Capital Inc. now owns 1,188,798 shares of the company’s stock worth $82,978,000 after purchasing an additional 33,205 shares in the last quarter.

About CarMax

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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Analyst Recommendations for CarMax (NYSE:KMX)

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