CarMax Inc. (KMX) Shares Up 4.6%
CarMax Inc. (NYSE:KMX)’s share price shot up 4.6% during trading on Wednesday . The company traded as high as $50.45 and last traded at $49.96, with a volume of 3,528,921 shares. The stock had previously closed at $47.76.
A number of brokerages have commented on KMX. Wedbush reissued a “neutral” rating and issued a $44.00 price objective on shares of CarMax in a research note on Wednesday, April 27th. TheStreet raised shares of CarMax from a “hold” rating to a “buy” rating in a research note on Friday, April 15th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of CarMax in a research note on Saturday, April 30th. Zacks Investment Research raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Monday, April 4th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of CarMax in a research note on Saturday, April 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $60.74.
The firm has a market capitalization of $9.71 billion and a price-to-earnings ratio of 16.49. The company’s 50 day moving average is $50.34 and its 200-day moving average is $49.56.
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 company had revenue of $4.13 billion for the quarter. During the same quarter in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect 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 firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $52.27, for a total transaction of $988,216.62. Following the completion of the sale, the chief executive officer now directly owns 536,690 shares in the company, valued at $28,052,786.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan B. Colberg acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The shares were purchased at an average price 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 approximately $51,780. The disclosure for this purchase can be found here.
Other large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in CarMax by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 17,094,317 shares of the company’s stock valued at $922,581,000 after buying an additional 55,915 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of CarMax by 8.2% in the fourth quarter. Baillie Gifford & Co. now owns 9,118,409 shares of the company’s stock valued at $492,120,000 after buying an additional 691,503 shares during the period. Principal Financial Group Inc. raised its position in shares of CarMax by 27.9% in the fourth quarter. Principal Financial Group Inc. now owns 6,441,701 shares of the company’s stock valued at $347,659,000 after buying an additional 1,405,507 shares during the period. Harris Associates L P raised its position in shares of CarMax by 26.5% in the fourth quarter. Harris Associates L P now owns 5,465,704 shares of the company’s stock valued at $294,984,000 after buying an additional 1,143,525 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of CarMax by 8.8% in the fourth quarter. Brown Advisory Inc. now owns 1,732,922 shares of the company’s stock valued at $93,526,000 after buying an additional 139,782 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.