Buckingham Research Boosts CarMax Inc (KMX) Price Target to $75.00
CarMax Inc (NYSE:KMX) had its target price lifted by Buckingham Research from $66.00 to $75.00 in a report released on Monday. The firm presently has a “neutral” rating on the stock. Buckingham Research’s price objective suggests a potential upside of 1.09% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut CarMax from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. ValuEngine raised CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. CIBC reissued a “buy” rating on shares of CarMax in a research note on Tuesday, July 4th. Royal Bank Of Canada reissued a “market perform” rating and issued a $63.00 price objective (down previously from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. Finally, Oppenheimer Holdings, Inc. set a $72.00 price objective on CarMax and gave the stock a “buy” rating in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $76.21.
CarMax (NYSE:KMX) traded down 0.28% during midday trading on Monday, hitting $73.98. The company had a trading volume of 2,018,938 shares. The stock has a 50 day moving average price of $66.11 and a 200 day moving average price of $62.70. The company has a market capitalization of $13.56 billion, a P/E ratio of 21.25 and a beta of 1.32. CarMax has a 52 week low of $47.50 and a 52 week high of $75.56.
CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. CarMax’s revenue was up 9.7% compared to the same quarter last year. Equities analysts forecast that CarMax will post $3.76 earnings per share for the current fiscal year.
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In related news, Director Thomas J. Folliard sold 16,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $68.39, for a total value of $1,094,240.00. Following the completion of the transaction, the director now owns 495,572 shares in the company, valued at approximately $33,892,169.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric M. Margolin sold 18,659 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $64.06, for a total value of $1,195,295.54. Following the completion of the transaction, the executive vice president now owns 47,163 shares of the company’s stock, valued at approximately $3,021,261.78. The disclosure for this sale can be found here. Insiders sold a total of 154,515 shares of company stock valued at $10,108,759 in the last 90 days. 1.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of KMX. Korea Investment CORP raised its stake in shares of CarMax by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after buying an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of CarMax during the 2nd quarter valued at about $112,000. Seven Eight Capital LP purchased a new position in shares of CarMax during the 2nd quarter valued at about $133,000. QS Investors LLC raised its stake in shares of CarMax by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock valued at $147,000 after buying an additional 22 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of CarMax by 7.3% during the 1st quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock valued at $148,000 after buying an additional 169 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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