Shares of CarMax Inc. (NYSE:KMX) shot up 4.6% during trading on Wednesday . The stock traded as high as $50.45 and last traded at $49.96, with a volume of 3,528,921 shares changing hands. The stock had previously closed at $47.76.

Several brokerages have recently commented on KMX. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of CarMax in a report on Wednesday, June 22nd. Robert W. Baird reiterated a “neutral” rating and set a $58.00 price objective (down previously from $60.00) on shares of CarMax in a report on Wednesday, June 22nd. Buckingham Research reiterated a “buy” rating and set a $60.00 price objective on shares of CarMax in a report on Tuesday, June 21st. Wedbush reiterated a “hold” rating and set a $44.00 price objective on shares of CarMax in a report on Thursday, June 16th. Finally, TheStreet upgraded CarMax from a “hold” rating to a “buy” rating in a report on Friday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.74.

The stock has a market cap of $9.94 billion and a price-to-earnings ratio of 16.87. The stock has a 50 day moving average of $50.32 and a 200-day moving average of $49.58.

CarMax (NYSE:KMX) last released its quarterly earnings data on Tuesday, June 21st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm had revenue of $4.13 billion for the quarter. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that CarMax Inc. will post $3.27 earnings per share for the current year.

In related news, CEO Thomas J. Folliard sold 18,906 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $52.27, for a total value of $988,216.62. Following the completion of the sale, the chief executive officer now directly owns 536,690 shares of the company’s stock, valued at $28,052,786.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alan B. Colberg purchased 1,000 shares of CarMax stock in a transaction that occurred on Tuesday, April 12th. The stock was bought at an average cost of $51.78 per share, with a total value of $51,780.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $51,780. The disclosure for this purchase can be found here.

A number of large investors recently made changes to their positions in KMX. Advantus Capital Management Inc boosted its stake in shares of CarMax by 1.0% in the fourth quarter. Advantus Capital Management Inc now owns 19,555 shares of the company’s stock worth $1,055,000 after buying an additional 203 shares during the period. Pettyjohn Wood & White Inc. bought a new stake in shares of CarMax during the fourth quarter worth $1,073,000. World Asset Management Inc boosted its stake in shares of CarMax by 1.3% in the fourth quarter. World Asset Management Inc now owns 22,387 shares of the company’s stock worth $1,208,000 after buying an additional 277 shares during the period. ProShare Advisors LLC boosted its stake in shares of CarMax by 3.5% in the fourth quarter. ProShare Advisors LLC now owns 29,538 shares of the company’s stock worth $1,594,000 after buying an additional 1,007 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in shares of CarMax by 6.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 29,932 shares of the company’s stock worth $1,615,000 after buying an additional 1,820 shares during the period.

CarMax, Inc (CarMax) is a holding company engaged in providing used vehicles and related products and services. The Company operates through two business 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.