Traders Sell CarMax Inc. (KMX) on Strength (KMX)
Investors sold shares of CarMax Inc. (NYSE:KMX) on strength during trading on Friday. $20.10 million flowed into the stock on the tick-up and $59.04 million flowed out of the stock on the tick-down, for a money net flow of $38.94 million out of the stock. Of all equities tracked, CarMax had the 0th highest net out-flow for the day. CarMax traded up $0.15 for the day and closed at $59.30
Several equities research analysts recently issued reports on KMX shares. Wedbush restated a “neutral” rating and issued a $44.00 target price on shares of CarMax in a report on Wednesday, April 27th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of CarMax in a research report on Saturday, April 30th. Buckingham Research reiterated a “buy” rating and issued a $60.00 price target on shares of CarMax in a research report on Tuesday, June 21st. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $58.00 price target (down from $60.00) on shares of CarMax in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. CarMax currently has a consensus rating of “Hold” and a consensus target price of $61.65.
The company has a market cap of $11.35 billion and a P/E ratio of 19.38. The stock’s 50 day moving average price is $56.46 and its 200 day moving average price is $51.55.
CarMax (NYSE:KMX) last released its earnings results 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 business had revenue of $4.13 billion for the quarter. During the same quarter in the prior year, the firm posted $0.86 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that CarMax Inc. will post $3.28 earnings per share for the current year.
In other news, EVP Eric M. Margolin sold 12,639 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $60.21, for a total value of $760,994.19. Following the sale, the executive vice president now directly owns 38,303 shares of the company’s stock, valued at approximately $2,306,223.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Folliard sold 271,435 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $55.39, for a total transaction of $15,034,784.65. Following the completion of the sale, the chief executive officer now directly owns 758,517 shares in the company, valued at $42,014,256.63. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in CarMax during the fourth quarter valued at approximately $1,770,000. US Bancorp DE increased its stake in CarMax by 30.8% in the fourth quarter. US Bancorp DE now owns 54,801 shares of the company’s stock valued at $2,957,000 after buying an additional 12,902 shares during the period. Finally, 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.
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.