Oppenheimer Holdings Inc. Reiterates “Outperform” Rating for CarMax Inc. (KMX)
CarMax Inc. (NYSE:KMX)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer Holdings Inc. in a research note issued to investors on Sunday.
A number of other research firms have also commented on KMX. Buckingham Research lowered CarMax from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $59.00 to $63.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Robert W. Baird boosted their price objective on CarMax from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 7th. Wedbush boosted their price objective on CarMax from $44.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. Susquehanna began coverage on CarMax in a research note on Thursday, August 25th. They issued a “positive” rating and a $70.00 price objective on the stock. Finally, Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $62.01.
CarMax (NYSE:KMX) traded down 0.50% during trading on Friday, reaching $51.25. The company’s stock had a trading volume of 2,190,185 shares. The firm has a market cap of $9.75 billion, a P/E ratio of 16.66 and a beta of 1.42. The stock’s 50 day moving average is $55.32 and its 200-day moving average is $53.81. CarMax has a 52 week low of $41.25 and a 52 week high of $60.81.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts forecast that CarMax will post $3.28 earnings per share for the current fiscal year.
In other CarMax news, EVP Edwin J. Hill sold 51,875 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $57.59, for a total value of $2,987,481.25. Following the completion of the sale, the executive vice president now directly owns 36,943 shares in the company, valued at $2,127,547.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric M. Margolin sold 57,894 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $55.52, for a total value of $3,214,274.88. Following the completion of the sale, the executive vice president now owns 89,197 shares of the company’s stock, valued at $4,952,217.44. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in CarMax by 8.2% in the first quarter. JPMorgan Chase & Co. now owns 239,550 shares of the company’s stock worth $12,241,000 after buying an additional 18,058 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in CarMax during the first quarter worth about $1,101,000. M&T Bank Corp increased its position in CarMax by 3.1% in the first quarter. M&T Bank Corp now owns 70,567 shares of the company’s stock worth $3,604,000 after buying an additional 2,114 shares during the last quarter. ING Groep NV purchased a new position in CarMax during the first quarter worth about $229,000. Finally, Credit Agricole S A increased its position in CarMax by 40.2% in the first quarter. Credit Agricole S A now owns 45,072 shares of the company’s stock worth $2,304,000 after buying an additional 12,915 shares during the last quarter.
CarMax Company Profile
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.
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