CarMax Inc. (NYSE:KMX) shares gapped up prior to trading on Friday . The stock had previously closed at $57.10, but opened at $57.52. CarMax shares last traded at $59.19, with a volume of 1,769,937 shares.

A number of research firms have issued reports on KMX. Bank of America Corp. reaffirmed a “buy” rating on shares of CarMax in a report on Saturday, April 9th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of CarMax in a report on Saturday, April 9th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of CarMax in a report on Saturday, April 30th. Buckingham Research reiterated a “buy” rating and issued a $60.00 price objective on shares of CarMax in a research note on Tuesday, June 21st. Finally, Wedbush reiterated a “neutral” rating and issued a $44.00 price objective on shares of CarMax in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. CarMax has an average rating of “Hold” and a consensus target price of $60.74.

The stock’s 50-day moving average is $53.20 and its 200-day moving average is $50.50. The company has a market cap of $11.27 billion and a price-to-earnings ratio of 19.23.

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

In related news, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $55.45, for a total value of $3,204,732.75. Following the completion of the sale, the chief financial officer now owns 72,135 shares in the company, valued at approximately $3,999,885.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Eric M. Margolin sold 2,000 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $50.75, for a total transaction of $101,500.00. Following the completion of the sale, the executive vice president now owns 34,303 shares of the company’s stock, valued at approximately $1,740,877.25. The disclosure for this sale can be found here.

A number of hedge funds have added to or reduced their stakes in KMX. Nicholas Co. Inc. WI increased its stake in CarMax by 2.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 204,565 shares of the company’s stock valued at $11,040,000 after buying an additional 4,520 shares during the period. BlackRock Advisors LLC boosted its position in shares of CarMax by 56.7% in the fourth quarter. BlackRock Advisors LLC now owns 177,701 shares of the company’s stock valued at $9,590,000 after buying an additional 64,282 shares in the last quarter. Employees Retirement System of Texas boosted its position in shares of CarMax by 350.6% in the fourth quarter. Employees Retirement System of Texas now owns 146,000 shares of the company’s stock valued at $7,880,000 after buying an additional 113,600 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of CarMax by 21.3% in the fourth quarter. Morningstar Investment Services LLC now owns 124,855 shares of the company’s stock valued at $6,738,000 after buying an additional 21,940 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of CarMax by 8.7% in the fourth quarter. Bank of Montreal Can now owns 64,969 shares of the company’s stock valued at $3,506,000 after buying an additional 5,194 shares in the last quarter.

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two 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.