CarMax Inc. (KMX) Trading Up 4.6%
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.
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