CarMax Inc (KMX) Hits New 1-Year High at $69.15
CarMax Inc (NYSE:KMX) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $69.15 and last traded at $69.10, with a volume of 1,293,145 shares trading hands. The stock had previously closed at $69.02.
A number of research analysts have issued reports on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of CarMax in a report on Friday, September 1st. ValuEngine lowered shares of CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Zacks Investment Research lowered shares of CarMax from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub upgraded shares of CarMax from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Wedbush set a $73.00 price objective on shares of CarMax and gave the stock a “buy” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight 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 “Buy” and a consensus target price of $69.58.
The stock has a market capitalization of $12.52 billion, a P/E ratio of 19.63 and a beta of 1.32. The stock’s 50 day moving average is $65.53 and its 200 day moving average is $62.57.
CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.15. CarMax had a return on equity of 21.72% and a net margin of 4.07%. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company earned $0.90 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts forecast that CarMax Inc will post $3.71 EPS for the current fiscal year.
In related news, SVP Mohammad Shamim sold 13,938 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $66.08, for a total value of $921,023.04. Following the completion of the sale, the senior vice president now directly owns 9,218 shares in the company, valued at approximately $609,125.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas W. Reedy, Jr. sold 8,583 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $66.87, for a total value of $573,945.21. Following the completion of the sale, the chief financial officer now owns 70,522 shares of the company’s stock, valued at $4,715,806.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,515 shares of company stock valued at $12,085,019. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of CarMax by 8.3% during the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after buying an additional 706,369 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of CarMax by 6.2% during the first quarter. PNC Financial Services Group Inc. now owns 193,635 shares of the company’s stock worth $11,467,000 after buying an additional 11,352 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of CarMax by 20.3% during the second quarter. Calamos Advisors LLC now owns 341,647 shares of the company’s stock worth $21,544,000 after buying an additional 57,657 shares during the last quarter. Gilbert & Cook Inc. acquired a new position in shares of CarMax during the second quarter worth approximately $270,000. Finally, Legal & General Group Plc lifted its holdings in shares of CarMax by 2.6% during the first quarter. Legal & General Group Plc now owns 907,143 shares of the company’s stock worth $53,722,000 after buying an additional 23,085 shares during the last quarter.
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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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