CarMax Inc (KMX) Sets New 52-Week High at $69.53
CarMax Inc (NYSE:KMX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $69.53 and last traded at $69.41, with a volume of 1,401,046 shares. The stock had previously closed at $68.35.
KMX has been the subject of several research reports. Wedbush raised CarMax from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $70.00 in a research report on Thursday, May 18th. ValuEngine raised CarMax from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. CIBC reaffirmed a “buy” rating on shares of CarMax in a research report on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “market perform” rating and issued a $63.00 target price (down from $71.00) on shares of CarMax in a research report on Tuesday, July 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $73.00 target price (up from $71.00) on shares of CarMax in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. CarMax has a consensus rating of “Buy” and an average price target of $70.05.
The company has a market capitalization of $12.66 billion, a P/E ratio of 19.84 and a beta of 1.32. The stock’s 50-day moving average price is $65.79 and its 200 day moving average price is $62.57.
CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 21st. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.15. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.46 billion. CarMax had a return on equity of 21.72% and a net margin of 4.07%. CarMax’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities analysts anticipate that CarMax Inc will post $3.71 EPS for the current year.
In related news, SVP Mohammad Shamim sold 13,938 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $66.08, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edwin J. Hill sold 35,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total value of $2,270,800.00. Following the sale, the executive vice president now owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,515 shares of company stock worth $12,085,019. 1.90% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Korea Investment CORP lifted its position in shares of CarMax by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after buying an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of CarMax during the 2nd quarter worth $112,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of CarMax by 2.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,095 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of CarMax during the 2nd quarter worth $133,000. Finally, QS Investors LLC lifted its position in shares of CarMax by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after buying an additional 22 shares during 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.
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